Jul. 16, 2012 (China Knowledge) - Jiangsu Lianyungang Port Group, the parent company of Jiangsu Lianyungang Port Co Ltd<601008
>, announced that it will issue RMB 800 million worth of notes with a maturity of five years on the interbank market on July 23.
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 set on July 25 and the to-be-issued notes tradable July 26.
All the proceeds will be used to repay bank loans, said the issuer.
China Chengxin International 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.