Sep. 14, 2012 (China Knowledge) - Tianjin
Dagu Chemical Co Ltd has announced it will issue RMB 400 million in 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.
Industrial Bank Co Ltd<601166
> has been hired as lead underwriter and bookrunner.
This will be the issuer's second medium-term notes this year.