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Shandong Gold to issue RMB 1.7 bln medium-term notes

Aug. 29, 2012 (China Knowledge) - Shandong Gold Group Co, the parent company of Shandong Gold Mining Co<600547>, the third-largest bullion producer in China, has said it will issue RMB 1.7 billion worth of medium-term notes with a maturity of five years in the interbank market on Sep 5.

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 367.92 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 1.33 billion to repay bank loans, said the issuer.

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

Bank of China (BOC) <601988><3988> has been assigned as the lead underwriter and book-runner. Bank of Communications<601328><3328> will be joint lead underwriter for the offering.

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

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