Jul. 16, 2012 (China Knowledge) - Jilin Provincial
Expressway Group Co Ltd announced that it will issue RMB 1 billion worth of notes with a maturity of five years on the interbank market on July 19.
Coupon rate will be determined in the process of book building and the notes will be issued at face value. Both value date and payment due date is set on July 23 and the to-be-issued notes tradable on July 24.
RMB 174 million of the proceeds will be used to replenish working capital and the remaining RMB 826 million will be used to repay bank loans, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
Shanghai Pudong Development Bank<600000
> has been assigned as lead underwriter and book runner for the offering.
This will be the issuer's first medium term notes this year.