Aug. 7, 2012 (China Knowledge) - China Electronics Corp, a large state-owned IT group, said today that it plans to issue RMB 2 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market on Aug. 10.
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. 13 and the to-be-issued notes tradable on Aug. 14.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
Bank of China Ltd<601988
> has been hired as book-runner and lead underwriter for the offering, and Bank of Beijing Co Ltd <601169
> will be joint lead underwriter.
This is the first medium-term notes issued by the company this year.