Jan. 31, 2012 (China Knowledge) - Guangxi
Railway Investment Group Co Ltd, wholly-owned by the People's Government of Guangxi
Zhuang Autonomous Region, has announced plans to issue RMB 800 million worth of unsecured notes with a maturity of five years on the interbank market on February 7.
Coupon rate will be determined in the process of book-building. Both value date and payment due date will be February 8, and the to-be-issued notes are tradable on February 9.
Proceeds from the issuance 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, sources reported.
According to the issuer's website, the Chinese government has allocated RMB 500 billion on fixed-asset investment in the country's railway industry this year.