May. 30, 2012 (China Knowledge) - Fujian
Longking Co Ltd<600388
>, principally engaged in the manufacturing, distribution and installation of electro-filter equipment and related devices, has announced plans to issue RMB 500 million worth of notes with a maturity of five years on the interbank market on Jun. 6.
Coupon rate will be determined in the process of book-building. Both value date and payment due date is set on Jun. 8, and the to-be-issued notes tradable on Jun. 11.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer. Shanghai
Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA and AA, respectively.
China Merchants Bank<600036
> has been assigned as the lead underwriter and bookrunner.
This will be the issuer's first medium-term note this year.