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Shenzhen Energy to issue RMB 1.7 bln in MTN

Mar. 22, 2012 (China Knowledge) - Shenzhen Energy Group Co Ltd<000027>, which is principally engaged in power generation and gas supply, said today that it will issue RMB 1.7 billion worth of unsecured medium-term notes with a maturity of two years on Mar. 27.

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. 28, and the to-be-issued notes tradable on Mar. 29.
 
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
 
China Construction Bank Co<601939><0939> has been hired as lead underwriter for the offering.
 
The company plans to use RMB 1 billion of proceeds from the deal to repay bank loans and the remaining RMB 700 million to replenish its working capital.






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