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Huaihai Industrial Development to issue RMB 400 mln MTN

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.







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