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China Tianrui Group Cement to issue RMB 500 mln MTN

Sep. 10, 2012 (China Knowledge) - China Tianrui Group Cement Co<1252>, a leading clinker and cement producer in Henan and Liaoning provinces, has said it will issue RMB 500 million worth of medium-term notes with a maturity of three years in the interbank market on Sep 17.

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 18, and the to-be-issued notes tradable Sep 19.

All the proceeds from the issue will be used to repay bank loans, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.

China Guangfa Bank has been assigned as the lead underwriter and book-runner. Bank of China<601988><3988> will be joint lead underwriter for the offering.

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

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