Jul. 26, 2012 (China Knowledge) - Huainan Mining Industry (Group) Co has announced that it plans to issue RMB 900 million worth of unsecured medium-term notes with a maturity of five years on the interbank market on Aug. 1.
The company said in a statement that the notes will be issued at face value and coupon rate will be determined during the process of book-building.
Both value date and payment due date is on Aug. 2 and the to-be-issued notes tradable on Aug. 3.
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
China Minsheng Banking Corp Ltd<600016
> has been hired as book-runner and lead underwriter for the deal.
This will be the first medium-term notes issued by the company this year.
Huainan Mining Industry (Group), based in Huainan
Province, has 28.5 billion metric tons of coal resources, which account for 74% of the total in the province.