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China Kunming Urban to issue RMB 2.2 bln bonds

Apr. 10, 2012 (China Knowledge) - China Kunming Urban Construction Investment Development Co Ltd intends to issue RMB 2.2 billion worth of fixed-rate corporate bonds with a maturity of six years on the interbank market by the end of this month, said a person familiar with the matter.

Coupon rate will be determined in the process of book-building. Qilu Securities and Guosen Securities have been assigned as the lead underwriters.

Pengyuan Credit Rating Co has rated the issuer and unsecured bonds AA+ and AA+, respectively.

No more details, including timetable, have yet been disclosed.

According to the issuer's website, the state-owned company, based in Kunming of Yunnan Provine, has RMB 24.67 billion in total assets.

The company issued RMB 1.5 billion worth of corporate bonds in 2008 for urban construction.






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