Leshi Internet Information & Technology Co, a Beijing-based video website operator, sold 200 million yuan ($31.7 million) of three-year bonds in a private placement.

The bonds were priced to yield 9.99 percent and sold to six investors, the company said in a Shenzhen Stock Exchange statement on Thursday. The notes are rated AA- by Lianhe Credit Rating Co, according to the statement.

China's securities regulator started allowing companies listed on the country's startup stock exchange, known as the ChiNext Board, to sell private debt to as many as 10 investors last November, according to a notice on the central government's website.

China Daily - Agencies