May. 30, 2012 (China Knowledge) - Tieling Public Assets Investment and Management Co Ltd is issuing RMB 1.2 billion unsecured bonds with a maturity of six years on the interbank market from May 29 to May 31, sources reported.
Coupon rate will be 7.34%. Both value date and payment due date is set on May 29.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer and bonds AA and AA, respectively.
China Investment Securities and Guangzhou Securities Co have been assigned as the joint lead underwriters. Tebon Securities Co and GF Securities Co Ltd<000776> are the deputy lead underwriters. The distributors include Minsheng Securities, Sinolink Securities Co Ltd<600109
> and Cinda Securities.
As of Dec. 31, 2011, the issuer had RMB 40.47 billion in total assets and RMB 26.84 billion in total liabilities.