Apr. 25, 2012 (China Knowledge) - Guangdong Wen's Food Group Co Ltd has said it will issue RMB 500 million worth of notes with a maturity of three years on the interbank market on May 27.

Coupon rate will be determined in the process of book-building. Both value date and payment due date is set on May 28, and the to-be-issued notes tradable on May 29.

Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.

Agricultural Bank of China Ltd<601288><1288> has been assigned as the lead underwriter and bookrunner.

This will be the issuer's first medium-term note this year.

As of Sep.30, 2011, the issuer had RMB 16.29 billion in total assets, whereas it had nearly RMB 12 billion at the end of 2010. The firm's debt/asset ratio was 33.23% as of Sep. 30, 2011.