Jun. 27, 2012 (China Knowledge) - Shandong
Hi-speed Co Ltd<600350> has said that it plans to issue RMB 1.5 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market on Jul. 3.
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 Jul. 5 and the to-be-issued notes tradable on Jul. 6.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
Huaxia Bank Co Ltd<600015
> has been hired as book-runner and lead underwriter for the offering.
In the first quarter of this year, the company's net profit rose 11.73% YoY to RMB 401.24 million, while its core business revenue fell 11.66% YoY to RMB 1.18 billion.