Chongqing Energy Investment Group (CQEIG), mainly engaged in the coal, power and gas sectors, has announced that it plans to issue RMB 1 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market on May. 29.
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 AA+ and AA+, respectively.
China Everbright Bank Co Ltd<601818> has been hired as book-runner and lead underwriter for the offering, and Industrial and Commercial Bank of China<601398
> will be joint lead underwriter.
The group plans to use RMB 600 million of the proceeds to replenish its working capital and the remaining RMB 400 million to repay bank loans.