Sep. 14, 2012 (China Knowledge) - Gansu
Provincial Highway Aviation Tourism Investment Group Co Ltd has said it will issue RMB 2 billion worth of medium-term notes with a maturity of ten years in the interbank market on Sep 20.
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 24, and the to-be-issued notes tradable Sep 25.
RMB 1 billion of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 1 billion to repay bank loans, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
China CITIC Bank<601998
> has been assigned as the lead underwriter and book-runner. China Minsheng Banking Corp Ltd<600016
> will be joint lead underwriter for the offering.
This will be the company's second medium-term notes this year.