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Changshu Municipal Management to issue RMB 1.2 bln bonds

Jan. 16, 2012 (China Knowledge) - Changshu Municipal Management and Investment Co, a state-owned company based in Changshu, Jiangsu Province, today begun issuing RMB 1.2 billion worth of corporate bonds on the interbank market with a maturity of seven years starting from January 16 to January 20.

Coupon rate of the unsecured bonds is 8.0%, said the issuer.

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

Guosen Securities has been assigned as the lead underwriter. CITIC Securities Co<600030>, China's largest listed brokerage firm, China Securities Co Ltd, Guotai Securities Co, Huatai United Securities and Southwest Securities Co Ltd<600369> are the joint lead underwriters.

Distributors consist of China Merchants Securities Co Ltd<600999>, J.P. Morgan First Capital Securities Co, Haitong Securities Co<600837>, Cinda Securities, Sealand Securities and Newtimes Securities.

Proceeds from the issuance will be used to develop several sewage disposal projects in Changshu.

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