Sep. 13, 2012 (China Knowledge) - Dragon City Tourism Holding Group has announced it will issue RMB 300 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 20, and the to-be-issued notes tradable Sep 21.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA- and AA-, respectively.
Bank of Nanjing Co Ltd<601009
> has been assigned as the lead underwriter and bookrunner for the offering.
This will be the issuer's first medium-term notes this year.