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
> has been hired as lead underwriter and bookrunner for the offering.