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Xiamen C&D to issue RMB 900 mln medium-term notes

Aug. 24, 2012 (China Knowledge) - Xiamen C&D Corp Ltd, parent of Xiamen C&D Inc<600153>, has said it will issue RMB 900 million worth of medium-term notes with a maturity of five years in the interbank market on Aug 31.

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 Sep 3, and the to-be-issued notes tradable Sep 4.

RMB 300 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 600 million to repay bank loans, said the issuer.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.

China Everbright Bank Co Ltd<601818> 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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