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Jiangsu High Hope International to issue RMB 1 bln MTN

Jun. 18, 2012 (China Knowledge) - Jiangsu High Hope International Group announced today that it plans to issue RMB 1 billion worth of unsecured medium-term notes with a maturity of three years on the interbank market on Jun. 26.

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. 28 and the to-be-issued notes tradable on Jun. 29.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
 
China CITIC Bank Corp<601998><0998> and China Minsheng Banking Corp Ltd<600016><1988> have been hired as joint lead underwriters for the offering.
 
The group plans to use RMB 600 million of the proceeds to replenish its working capital and the remaining to repay bank loans.







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