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China Merchants Group to issue RMB 2 bln in bonds

Jan. 5, 2012 (China Knowledge) - China Merchants Group, parent company of China Merchants Holdings (International) Co Ltd<0144>, said today that it will issue RMB 2 billion worth of bonds on the interbank bond market with a maturity of seven years on January 12.

The company said in a statement that the bonds will be issued at face value, and the coupon rate will be determined during the process of bookbuilding.

Both value date and payment due date is January 13 and the to-be-issued bonds are tradable on January 16.

The company will use the proceeds to replenish its working capital and repay bank loans.

China Chengxin International Credit Rating Co Ltd has rated the issuer and bonds AAA and AAA, respectively.

CITIC Securities Co<600030> and China Merchants Bank<600036><3968> have been hired as joint lead underwriters for the deal.






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