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Fushun Mining Group to issue RMB 1 bln MTN

May. 10, 2012 (China Knowledge) - Liaoning Province-based Fushun Mining Group Co, announced that it plans to issue RMB 1 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market on May 17.

The company 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 May 18, and the to-be-issued notes tradable on May 21.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.

China Minsheng Banking Corp Ltd<600016><1988> has been hired as lead underwriter for the offering and Industrial Bank Co Ltd<601166> will be joint lead underwriter.

The company plans to use RMB 520 million of the proceeds from the deal to replenish working capital and the remaining RMB 480 million to repay bank loans.






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