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Guangxi Communication Inv to issue RMB 1.5 bln notes

Jun. 12, 2012 (China Knowledge) – Guangxi Communication Investment Group Co Ltd, a wholly State-owned corporation operating under the authorization of the People's Government of Guangxi Zhuang Autonomous Region, announced that it plans to issue RMB 1.5 billion worth of medium-term notes with a maturity of five years on the interbank market on Jun. 15.

According to a statement, the company said that the notes will be issued at the face value, and the coupon rate will be determined in the process of book-building.

Both value date and payment due date is Jun. 18 and the to-be-issued notes are tradable on Jun. 19.

All the proceeds from the issue will be used to invest several projects, said the issuer.

Dagong Global Credit Rating Co has rated the issuer and the bills AA+ and AA+, respectively.

China Development Bank has been assigned as lead underwriter and bookrunner for the offering.

The company said it will issue another RMB 1.5 billion note in the fourth quarter of this year.

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