Putailai New Energy Tech Issues 600 Million Yuan Super Short-Term Bond; Shares Down 3%

Shanghai Putailai New Energy Technology (SHA:603659) issued the first tranche of super short-term bonds for the year, which amounted to 600 million yuan, according to a Monday disclosure on the Shanghai bourse. The bonds have a 1.66% coupon rate and a term of 270 days, maturing March 30, 2027. Industrial Bank (SHA:601166) was the lead underwriter of the issuance. The lithium-ion battery maker's shares fell 3% during the afternoon trade.