Economy
Financial Markets
Commodities
Industries
Energy
Real Estate
Local listed Company
Overseas-listed Company
Foreign Company
Industrial Parks


 
Financial Market
 Search News  Or
Tianjin Municipal Const. to issue RMB 900 mln bonds

Jan. 17, 2012 (China Knowledge) - Tianjin Municipal Construction Group Co Ltd, a state-owned investment company based in Tianjin, has announced plans to issue RMB 900 million worth of bonds on the interbank market with a maturity of six years starting from January 18 to January 19.

Coupon rate for the first three years of the to-be-issued bonds will be the Shanghai Interbank Offered Rate (SHIBOR) plus basic spread that has been set between 206 and 306 basis points (bp).

RMB 720 million of the proceeds from the issuance will be used to fund two urban construction projects, while the remaining RMB 180 million to replenish working capital.

Pengyuan Credit Rating Co Ltd has rated the issuer and bonds AA and AA, respectively.

China Securities Co Ltd has been assigned as the lead underwriter, while China Development Bank Securities Co Ltd will be the joint lead underwriter.

Minsheng Securities and Pacific Securities Co Ltd will be the distributors in the issue.

According to the website of Tianjin Municipal Construction Group, the company reaped RMB 540 million in gross profit in 2010, surging 127% from a year earlier, and the company's operating revenue for the year totaled RMB 9.1 billion.






Add this     
Copyright © "2015" www.chinaknowledge.com

Send feedback or comments to: news@chinaknowledge.com

For more news, financial weekly reports, business guides to China, Market Research Reports and other premium information, subscribe to China Knowledge today

To access our page on Bloomberg, type CKFI (GO)

 Our Professional Services

 E-Store

 News Archive
About Us | CSR | Media Center | E-Newsletter | E-Store | Contact Us | Feedback | Sitemap | Privacy Policy | Terms of Use  

           Copyright © 2014 China Knowledge Online. All Rights Reserved