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Red Star Macalline to issue RMB 600 mln medium-term notes

Aug. 23, 2012 (China Knowledge) - Red Star Macalline Group Corp Ltd has said it will issue RMB 600 million worth of medium-term notes with a maturity of three years in the interbank market on Aug 30.

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

Both value and payment due date is set on Aug 31, and the to-be-issued notes tradable Sep 3.

RMB 42 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 558 million to repay bank loans, said the issuer.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA and AA, respectively.

Industrial and Commercial Bank of China<601398><1398> has been assigned as the lead underwriter and bookrunner for the offering.

This will be the issuer's first medium-term notes this year.

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