Sep. 13, 2012 (China Knowledge) - Jiangsu
Communication Holding Co has announced it will issue RMB 1.5 billion worth of medium-term notes with a maturity of ten 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.
RMB 100 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 1.4 billion to repay bank loans, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
China Merchants Bank<600036
> has been assigned as the lead underwriter and bookrunner for the offering.
This will be the issuer's first medium-term notes this year.