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SDIC to issue RMB 3 bln in MTN

Mar. 16, 2012 (China Knowledge) - State Development & Investment Corp or SDIC, a state-owned investment holding company in China, said that it will issue RMB 3 billion worth of unsecured medium-term notes with a maturity of seven years on Mar. 22.

The company said in a statement that the notes will be issued at face value, and the coupon rate be determined during the process of book-building.

Both value date and payment due date is Mar. 23, and the to-be-issued notes tradable on Mar. 26.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
China Construction Bank Co<601939><0939> has been hired as lead underwriter for the offering, and Bank of China Ltd<601988><3988> will be joint lead underwriter.

SDIC plans to use RMB 2.2 billion of the proceeds to fund project construction and RMB 800 million to replenish its working capital.

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