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Jingwei Textile Machinery to issue RMB 1.2 bln in MTN

Apr. 18, 2012 (China Knowledge) - Jingwei Textile Machinery Co Ltd<000666><0350>, a textile machinery and related parts producer and distributor, has announced that it plans to issue RMB 1.2 billion worth of secured medium-term notes with a maturity of five years on the interbank market on Apr. 24.

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

Both value date and payment due date is Apr. 25, and the to-be-issued notes are tradable on Apr. 26.

Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA and AA+, respectively.

Bank of Beijing Co Ltd <601169> has been hired as lead underwriter for the offering.

In 2011, Jingwei Textile Machinery saw its net profit surge 100.56% year on year to RMB 491 million and its operating revenue jump 40.67% to RMB 10.25 billion.






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