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Fujian Communication Transportation to issue RMB 440 mln MTN

Aug. 28, 2012 (China Knowledge) - Fujian Provincial Communication Transportation Group Co Ltd has said it will issue RMB 440 million worth of medium-term notes with a maturity of three years in the interbank market on Sep 4.

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 6, and the to-be-issued notes tradable Sep 7.

RMB 40 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 400 million to repay bank loans, said the issuer.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.

China CITIC Bank Corp<601998><0998> has been assigned as the lead underwriter and book-runner for the offering.







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