May. 30, 2012 (China Knowledge) - Anhui Huaihai Industrial Development Group Co announced that it plans to issue RMB 400 million worth of secured medium-term notes with a maturity of three years on the interbank market on Jun. 6.
The company said in a statement that the notes will be issued at face value and carry a floating-rate that will be the one-year time deposit rate set by the central bank plus basic spread.
The basic spread will be determined in the process of book-building.
Both value date and payment due date is Jun. 8, and the to-be-issued notes tradable on Jun. 11.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA- and AA+, respectively.
Bank of Beijing Co Ltd <601169
> has been hired as book-runner and lead underwriter for the offering.
In the first nine months of 2011, the group's net profit was RMB 280 million and its operating revenue was RMB 5.43 billion.