Jun. 5, 2012 (China Knowledge) - Guangxi
Nonferrous Metals Group Co announced today that it plans to issue RMB 1.3 billion worth of unsecured medium-term notes with a maturity of three years on the interbank market on Jun. 12.
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. 13, and the to-be-issued notes tradable on Jun. 14.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
China Development Bank has been hired as book-runner and lead underwriter for the offering, and China CITIC Bank Corp<601998
> will be joint lead underwriter.
The company plans to use RMB 1.2 billion of the proceeds to repay bank loans and the remaining RMB 100 million to replenish its working capital.