May. 23, 2012 (China Knowledge) - Nanfang Media Group, the operator of Nanfang Daily, an official Guangdong
Communist Party newspaper, has announced plans to issue RMB 350 million 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 book-building. Both value date and payment due date is set on May 31, and the to-be-issued notes tradable on Jun. 1.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer. Shanghai
Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
China Everbright Bank Co Ltd<601818> has been assigned as the lead underwriter and bookrunner.
This will be the issuer's first medium-term note this year.