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Shanxi Energy & Transport Invt Crop to issue RMB 1.7 bln MTN

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><0998> has been assigned as the lead underwriter and bookrunner.

This will be the issuer's first medium-term notes this year.

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