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Chongqing Expressway to issue RMB 1 bln notes

Jun. 6, 2012 (China Knowledge) - Chongqing Expressway Group Co has announced plans to issue RMB 1 billion worth of medium-term notes with a maturity of seven years in the interbank market on Jun. 8.

The issuer has option to increase coupon rate and redeem the notes at the fifth year.

Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is set on Jun. 11, and the to-be-issued notes tradable Jun. 12.

Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.

China Construction Bank<601939><0939> has been assigned as the lead underwriter and bookrunner. China CITIC Bank Corp<601998><998>, the listed banking unit of the nation's largest investment enterprise CITIC Group, will be the joint lead underwriter.

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

As of to date, the issuer had issued RMB 4.8 billion of bonds.







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