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Gansu Highway Aviation Tourism Invt Group to issue RMB 2 bln MTN

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><0998> has been assigned as the lead underwriter and book-runner. China Minsheng Banking Corp Ltd<600016><1998> will be joint lead underwriter for the offering.

This will be the company's second medium-term notes this year.

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