Aug. 2, 2012 (China Knowledge) - Anhui
Expressway Holding Group Co has said that it plans to issue RMB 1 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market on Aug. 9.
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 on Aug. 10 and the to-be-issued notes tradable on Aug. 13.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
China Development Bank has been hired as book-runner and lead underwriter for the offering, and China Merchants Bank<600036
> will be co-lead underwriter.
The company plans to use RMB 500 million of the proceeds to repay bank loans and the remaining RMB 500 million to replenish its working capital.