May. 30, 2012 (China Knowledge) - China Automotive Technology & Research Center announced today that it plans to issue RMB 600 million worth of unsecured medium-term notes with a maturity of five years on the interbank market on Jun. 6.
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 Jun. 7, and the to-be-issued notes tradable on Jun. 8.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
Bank of China Ltd<601988
> 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 270 million and its operating revenue was RMB 1.21 billion.