May. 2, 2012 (China Knowledge) - AVIC International Holding Corp, a unit of state-owned Aviation Industry Corp of China or AVIC, has announced plans to issue RMB 1.5 billion worth of notes with a maturity of five years on the interbank market on May 9.
Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is set on May 11, and the to-be-issued notes tradable on May 12.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
China CITIC Bank Corp<601998
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This will be the issuer's first medium-term notes this year.
As of to date, the issuer, along its subsidiaries, has RMB 4.8 billion in bonds.