Sep. 14, 2012 (China Knowledge) - Shanxi
Energy & Transport Investment Co Ltd, which engages in logistic, railway construction and new energy, has announced it will issue RMB 1.7 billion worth of medium-term notes with a maturity of five years in the interbank market on Sep 21.
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 25, and the to-be-issued notes tradable Sep 26.
RMB 700 million 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 bookrunner.
This will be the issuer's first medium-term notes this year.