May. 18, 2012 (China Knowledge) - Tianjin
Dagu Chemical Co Ltd has announced that it plans to issue RMB 400 million worth of unsecured medium-term notes with a maturity of three years on the interbank market on May 25.
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 28, and the to-be-issued notes tradable on May 29.
Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA- and AA-, respectively.
Industrial Bank Co Ltd<601166
> has been hired as book-runner and lead underwriter for the offering.
Proceeds from the deal will be used to repay bank loans.Tianjin
Dagu Chemical plans to float RMB 400 million more medium-term notes this quarter.