Sep. 21, 2012 (China Knowledge) - Hunan Xiangtou Holdings Group Co Ltd, a state-owned investment enterprise in Hunan
province, has announced it will issue RMB 700 million in medium-term notes with a maturity of five years in the interbank market on Sep 26.
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 27, and the to-be-issued notes tradable Sep 28.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
Huaxia Bank Co Ltd<600015
> has been hired as lead underwriter and bookrunner for the offering.