Sep. 17, 2012 (China Knowledge) - Guizhou
Panjiang Investment Holding (Group) Co Ltd, a state enterprise in coal industry, has announced it will issue RMB 1 billion in medium-term notes with a maturity of five 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 21, and the to-be-issued notes tradable Sep 24.
RMB 700 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 300 million to invest a new project, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
Industrial and Commercial Bank of China<601398
> has been hired as lead underwriter and bookrunner.