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Yuntianhua Group to issue RMB 1 bln medium-term notes

Aug. 14, 2012 (China Knowledge) - Yuntianhua Group, parent of Yunnan Yuntianhua Co Ltd<600096>, a manufacturer and distributor of chemical fertilizers and chemical materials in China, has announced it plans to issue RMB 1 billion worth of unsecured medium-term notes with a maturity of five years in the interbank market on Aug 21.

The company said in a statement that the notes will be issued at face value, and the coupon rate will be determined in the process of book-building.

Both value and payment due date is set on Aug 23, and the to-be-issued notes tradable Aug 24.

Dagong Global Credit Rating Co Ltd has rated the issuer and the notes AA+ and AA+, respectively.

China CITIC Bank Corp<601998><0998> has been assigned as the lead underwriter and bookrunner, and Shanghai Pudong Development Bank<600000> the joint lead underwriter for the offering.

The issuer plans to use RMB 700 million of the proceeds to repay bank loans and RMB 300 million to replenish its working capital.







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