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BBMG to issue RMB 2 bln notes

Sep. 12, 2012 (China Knowledge) - BBMG Corp<2009>, a Beijing-based building materials manufacturer, has said that it plans to issue RMB 2 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market on Sep. 18.

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

Both value and payment due date is on Sep. 20 and the to-be-issued notes tradable Sep. 21.

Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
Bank of Beijing Co Ltd <601169> has been hired as book-runner and lead underwriter for the offering.

In a separate statement, the Hong Kong-listed company said that it plans to issue RMB 1 billion in short-term bills with a maturity of 365 days on Sep. 18.

BBMG earlier reported a net profit of RMB 2.11 billion for the first half of this year, representing a decrease of 9.19% YoY. Core business revenue rose 12.23% YoY to RMB 14.49 billion in the period.

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