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Lijiang Yulong Tourism to issue RMB 250 million MTN

Sep. 20, 2012 (China Knowledge) - Lijiang Yulong Tourism Co Ltd<002033>, which was mainly engaged in investment, exploitation, operation and services in the field of tourism, has announced it will issue RMB 250 million in medium-term notes with a maturity of five years in the interbank market on Sep 27.

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 repay bank loans, while the remaining RMB 50 million to replenish working capital, said the issuer.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA- and AA-, respectively.

China Merchants Bank Co Ltd<600036><3968> has been hired as lead underwriter and bookrunner for the offering.

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