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Ningxia Building Materials to issue RMB 900 mln notes

Aug. 7, 2012 (China Knowledge) - Cement producer Ningxia Building Materials Group Co Ltd <600449> said today 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. 14.

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. 15 and the to-be-issued notes tradable on Aug. 16.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA and AA, respectively.
Bank of China Ltd<601988><3988> has been hired as book-runner and lead underwriter for the offering.
In the first quarter of this year, the company booked a loss of RMB 67.47 million, while its operating revenue rose 21.30% to RMB 268.98 million.
This is the first medium-term notes issued by the company this year.

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