May. 10, 2012 (China Knowledge) – China Marine Bunker Supply Company or CHIMBUSCO has announced plan to issue RMB 200 million worth of notes with a maturity of five years on the interbank market on May. 11.
Coupon rate will be determined in the process of bookbuilding and the notes will be issued at face value. Both value date and payment due date is set on May 14 and the to-be-issued notes tradable May. 15.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
China Merchants Bank<600036
> has been hired as lead underwriter and bookrunner for the offering.
The company said that all the proceeds from the issue will be used to replenish working capital.
This will be the issuer's first medium-term notes this year.