Aug. 16, 2012 (China Knowledge) - Guodian Technology & Environment Group Co<1296> has announced today that it plans to issue RMB 4 billion of secured bonds from Aug. 20 to Aug. 22.

The company said in a statement that it plans to issue RMB 1 billion in three-year bonds, RMB 1 billion in five-year bonds and RMB 2 billion in 15-year bonds.

China Lianhe Credit Rating Co has rated the bonds and issuer AAA and AAA, respectively.

UBS Securities, Hong Yuan Securities Co<000562> and China International Capital Corp have been hired as joint lead underwriters for the offering.

The company plans to use RMB 24 billion of the proceeds to repay bank loans and RMB 16 billion to replenish its working capital.

In 2011, Guodian Technology & Environment earned a net profit of RMB 840 million, with operating revenue standing at RMB 18.71 billion.