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Jizhong Energy Group to issue RMB 1.5 bln MTN

Sep. 21, 2012 (China Knowledge) - Jizhong Energy Group Co Ltd, the largest coal producer in Hebei Province, has announced it will issue RMB 1.5 billion in medium-term notes with a maturity of five years in the interbank market on Sep 28.

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 29, and the to-be-issued notes tradable Oct 8.

RMB 600 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 900 million to replenish working capital, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.

Bank of China<601988><3988> has been hired as lead underwriter and bookrunner for the offering.

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