Aug. 17, 2012 (China Knowledge) - Bank of Taizhou has said that it plans to issue RMB 1.5 billion worth of unsecured financial bonds with a maturity of three years on the interbank market on Aug. 21.
The company said in a statement that the notes will be issued at face value and coupon rate determined in the process of book-building.
Both value and payment due date is on Aug. 23 and the to-be-issued notes tradable on Aug. 24. Interest will be paid annually.
The issuer and bonds have been rated AA and AA, respectively.
China Securities Co and China CITIC Bank Corp<601998
> have been hired as joint lead underwriters for the deal.
In the first half of this year, the bank's net profit was RMB 776 million and its operating revenue was RMB 1.69 billion.