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Shanghai Yuyuan Tourist Mart to issue RMB 500 mln MTN

Jun. 29, 2012 (China Knowledge) - Shanghai Yuyuan Tourist Mart Co Ltd<600655> announced that it will it plans to issue RMB 500 million 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.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA and AA, respectively.
Bank of Communications<601328><3328> has been hired as book-runner and lead underwriter for the offering.
Proceeds from the deal will be used to replenish the company's working capital and repay bank loans.
In the first quarter of this year, the company's net profit was RMB 142 million and its operating revenue was RMB 5.97 billion.

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