Feb. 27, 2012 (China Knowledge) - Xiamen
Road & Bridge Construction Group Co Ltd has announced plans to issue RMB 500 million medium-term notes with a maturity of five years on the interbank market on Mar. 1, sources reported.
Coupon rate will be determined in the process of book-building. Both value date and payment due date is Mar. 2, and the to-be-issued notes tradable on Mar. 5.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
Industrial and Commercial Bank of China<601398
> has been assigned as the lead underwriter and bookrunner.
This will be the issuer's first medium-term note this year.
As of to date, the issuer has RMB 500 million in medium-term notes and RMB 800 million in corporate bonds.