Sep. 19, 2012 (China Knowledge) - Henan
Transport Investment Group Co has announced it will issue RMB 1 billion in medium-term notes with a maturity of five years in the interbank market on Sep 26.
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 28, and the to-be-issued notes tradable Sep 29.
RMB 200 million of the proceeds from the issue will be used to replenish the working capital, while the remaining RMB 800 million to repay bank loans, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
China Merchants Bank Co Ltd<600036
> has been hired as lead underwriter and bookrunner for the offering.
This will be the issuer's third medium-term notes in this year.