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Shandong Energy Group to issue RMB 5 bln MTN

Jun. 4, 2012 (China Knowledge) – Shandong Energy Group Co Ltd, a large state-owned enterprise which is headquartered in Jinan, Shandong province, announced that it will issue RMB 5 billion worth of notes with a maturity of three years on the interbank market on Jun. 11.

Coupon rate will be determined in the process of bookbuilding and the notes will be issued at face value. Both value date and payment due date is set on Jun. 12 and the to-be-issued notes tradable Jun. 13.

The company will use RMB 3.75 billion of the proceeds to replenish working capital and the remaining RMB 1.25 billion will be used to repay bank loans.

Dagong Global Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.

China Development Bank has been hired as lead underwriter and bookrunner. China Construction Bank<601939><0939> will be the joint lead underwriter for the offering.

This will be the issuer's first medium-term notes this year.

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