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Wuhan State-owned Assets Management to issue RMB 600 mln notes

May. 23, 2012 (China Knowledge) - Wuhan State-owned Assets Management Co said it will issue RMB 600 million worth of medium term notes with a maturity of five years on the interbank market on May 30.

Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is set on Jun. 1, and the to-be-issued notes tradable on Jun. 2.

Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.

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

China CITIC Bank Corp<601998><998>, the listed banking unit of the nation's largest investment enterprise CITIC Group, has been assigned as the lead underwriter and bookrunner.

This will be the issuer's first medium-term note this year.

As of to date, the issuer has RMB 800 million in bonds.

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