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CCRE Group to issue RMB 1 bln in bonds

Feb. 7, 2012 (China Knowledge) - Xiamen CCRE Group Co has said that it would issue RMB 1 billion in unsecured bonds with a maturity of five years on the inter-bank market on February 13.

The firm 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 set at February 14, and the to-be-issued bonds are tradable on February 15.
China Lianhe Credit Rating Co Ltd has rated the bills and the issuer AA+ and AA+, respectively.

Industrial and Commercial Bank of China<601398><1398> has been hired as lead underwriter for the offering and China Everbright Bank Co Ltd<601818> will be joint lead underwriter.
Proceeds from the offering will be used to replenish the firm's working capital, purchase raw materials and repay bank loans.

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