May. 8, 2012 (China Knowledge) - Heilongjiang
Long Coal Industry Group Co Ltd has said it will issue RMB 1.2 billion worth of notes with a maturity of three years on the interbank market on May 10, sources reported.
Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is set on May 11, and the to-be-issued notes tradable May 14.
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.
Industrial Bank Co Ltd<601166
> has been assigned as the lead underwriter and bookrunner.
This will be the issuer's first medium-term note this year.