Jun. 28, 2012 (China Knowledge) - China Molybdenum Co<3993
>, the nation's biggest molybdenum producer, announced today that it plans to issue RMB 2 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market on Jul. 5.
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. 6 and the to-be-issued notes tradable on Jul. 9.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
Bank of China Ltd<601988
> has been hired as book-runner and lead underwriter for the offering, and Industrial and Commercial Bank of China<601398
> will be joint lead underwriter.
Proceeds from the deal will be used to replenish the company's working capital and repay bank loans.