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Shandong Energy Linyi Mining to issue RMB 500 mln notes

Jun. 6, 2012 (China Knowledge) - Shandong Energy Linyi Mining Group Co Ltd has said it will issue RMB 500 million worth of notes with a maturity of five years on the interbank market on Jun. 12.
Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is set on Jun. 13, and the to-be-issued notes tradable Jun. 14.

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

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.

China Minsheng Banking<600016> has been assigned as the lead underwriter and bookrunner.

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

The issuer is controlled by state-owned Shandong Energy Group, which targets RMB 27 billion-gross profit for 2015, according to the website of the parent company.

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