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
> will be the joint lead underwriter for the offering.