HK Stock Market Move | WESTCHINACEMENT (02233) rose nearly 3% recently, planning to issue $400 million in senior notes. The company's liquidity is abundant.

WESTCHINACEMENT (02233) rose nearly 3%, as of the time of writing, it rose 2.64% to HK$3.11, with a turnover of HK$22.8121 million. On the news front, recently, WESTCHINACEMENT announced that the company and its subsidiaries, as guarantors, have entered into a purchase agreement with CICC, HSBC, and J.P. Morgan for the issuance of $400 million in principal amount of 9.90% senior notes due in 2028. The issuance price of the notes will be equal to 99.115% of the principal amount of the notes. The company plans to use the proceeds from the issuance of the notes, together with cash on hand, to repurchase, redeem, or repay the company's existing debt (including tender offers or redemptions of the 2026 notes) and for working capital (including current liabilities). Fitch Ratings expects that after the issuance of the $400 million bonds, WESTCHINACEMENT will not face significant debt maturities before 2028, supporting its financial flexibility and expected rating. In June 2025, WESTCHINACEMENT sold its Xinjiang assets to Anhui Conch Cement for RMB 1.65 billion. Fitch Ratings expects that proceeds from the sale and the new senior unsecured bonds will be used to repay the $600 million notes due in July 2026. In addition, with improved EBITDA, moderate capital expenditures, and strengthened financing channels, it is expected that by the end of 2026, the company's available cash will exceed RMB 2 billion (compared to RMB 1.3 billion in 2024).