Sep. 19, 2012 (China Knowledge) - Red Star Macalline Group Corp Ltd has announced it will issue RMB 900 million in 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 24, and the to-be-issued notes tradable Sep 25.
RMB 112 million of the proceeds from the issue will be used to replenish the working capital, while the remaining RMB 788 million to repay bank loans, said the issuer.
Shanghai Brilliance Credit Rating & Investors Service 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 for the offering.
This will be the issuer's second medium-term notes this year.