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
> 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.