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Shanghai Construction Group to issue RMB 1.4 bln MTN

Sep. 21, 2012 (China Knowledge) - Shanghai Construction Group Co Ltd, parent of Shanghai Construction Ltd<600170>, has announced it will issue RMB 1.4 billion in medium-term notes with a maturity of three 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.

All the proceeds from the issue will be used to replenish working capital, said the issuer.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AAA and AAA, respectively.

China Construction Bank Corp<601939><0939> has been hired as lead underwriter and bookrunner for the offering.






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