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AVIC Engine to issue RMB 3 bln MTN

May. 22, 2012 (China Knowledge) - AVIC Engine Holding Co, a unit of state-owned Aviation Industry Corp of China or AVIC has announced that it plans to issue RMB 3 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market from May 29 to May. 30.

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 31, and the to-be-issued notes tradable on Jun. 1.

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

China CITIC Bank Corp<601998><0998> has been hired as book-runner and lead underwriter for the offering.

The company plans to use the proceeds from the deal to repay bank loans and replenish its working capital.







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