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Jiangsu Salt Industry Group to issue RMB 500 million MTN

Sep. 20, 2012 (China Knowledge) - Jiangsu Salt Industry Group Co Ltd has announced it will issue RMB 500 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 300 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 200 million to replenish the working capital, said the issuer.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.

Bank of Communications<601328><3328> has been hired as lead underwriter and bookrunner for the offering.







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