Apr. 20, 2012 (China Knowledge) - Shanxi
Coal Transportation and Sales Group Co, a large scale modernized coal logistics group based in Shanxi
Province, has announced that it plans to issue RMB 3 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market on Apr. 27.
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. 28, and the to-be-issued notes are tradable on May 2.
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
China Merchants Bank<600036
> has been hired as lead underwriter for the offering.
Proceeds from the deal will be used to repay bank loans.