Jan. 16, 2012 (China Knowledge) - Zhuhai Gree Group Co Ltd, the parent company of Gree Electric Appliances Inc of Zhuhai
>, has that it will issue RMB 900 million worth of bonds on the interbank bond market with a maturity of five years on January 18.
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 19, and the to-be-issued bonds are tradable on January 20.
The company will use the proceeds to replenish its working capital.
China Lianhe Credit Rating Co Ltd has rated the issuer and bonds AA+ and AA+, respectively.
Agricultural Bank of China Ltd or ABC<601288
> has been hired as lead underwriter for the deal.