Oct. 17, 2012 (China Knowledge) - Jiaxing
City Development Investment Group has announced it will issue RMB 470 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 24, and the to-be-issued notes tradable Oct 25.
RMB 300 million the proceeds from the issue will be used to repay bank loans, while the remaining RMB 170 million to replenish working capital, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
China Everbright Bank Co Ltd<601818> has been hired as lead underwriter and bookrunner for the offering.