May. 11, 2012 (China Knowledge) - TBEA Co Ltd<600089
>, a China-based company engaged in manufacture and distribution of electric power transmission and transformation equipment, announced that it plans to issue RMB 700 million worth of unsecured medium-term notes with a maturity of five years on the interbank market on May 15.
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 16, and the to-be-issued notes tradable on May 17.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
Bank of China Ltd<601988
> has been hired as lead underwriter for the offering.
Proceeds from the deal will be used to fund the purchase of raw materials.