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Guangzhou Electric Equipment to issue RMB 400 mln MTN

Sep. 13, 2012 (China Knowledge) - Guangzhou Electric Equipment Group Co has announced that it plans to issue RMB 400 million worth of medium-term notes with a maturity of three years in the interbank market on Sep 19.

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 21, and the to-be-issued notes tradable Sep 24.

All the proceeds from the issue will be used to replenish working capital, said the issuer.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA and AA, respectively.

Shanghai Pudong Development Bank Co Ltd<600000> has been assigned as the lead underwriter and bookrunner. Agricultural Bank of China Ltd<601288><1288> will be the joint lead underwriter for the offering.

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