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Bailian Group to issue RMB 1.5 bln MTN

Mar. 2, 2012 (China Knowledge) - Bailian Group, the parent co of Shanghai Bailian Group Co Ltd<600631>, has announced plans to issue RMB 1.5 billion worth of notes with a maturity of three years on the interbank market on Mar. 7, sources reported.

Coupon rate will be determined in the process of book-building. Both value date and payment due date is set Mar. 8, and the to-be-issued notes tradable on Mar. 9.

Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA+ and AA+, respectively.

Industrial and Commercial Bank of China<601398><1398> 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 3 billion in short-term bills, RMB 1 billion in medium-term notes and RMB 1 billion in corporate bonds.

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