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Hangzhou Airport to issue RMB 500 million MTN

Sep. 25, 2012 (China Knowledge) - Hangzhou Xiaoshan International Airport 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 Oct 9.

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 Oct 10, and the to-be-issued notes tradable Oct 11.

RMB 200 million of proceeds from the issue will be used to repay bank loans, while the remaining RMB 300 million to replenish working capital, said the issuer.

China Chengxin International 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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