Oct. 17, 2012 (China Knowledge) - Chongqing Light Industry & Textile Holding Group, a large state owned enterprise, has announced it will issue RMB 600 million in medium-term notes with a maturity of five years in the interbank market on Oct 23.
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 25, and the to-be-issued notes tradable Oct 26.
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.
Shanghai Pudong Development Bank Co Ltd<600000
> has been hired as lead underwriter and bookrunner for the offering.