Oct. 18, 2012 (China Knowledge) - China South Locomotive & Rolling Stock Co Ltd<601766
>, or CSR, the country's largest manufacturer of rail carriage, has announced it will issue RMB 2 billion in medium-term notes with a maturity of five years in the interbank market on Oct 25.
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 26, and the to-be-issued notes tradable Oct 29.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
China Minsheng Banking Corp Ltd<600016
> has been hired as lead underwriter and bookrunner. Bank of Beijing Co Ltd <601169
> will be the joint lead underwriter for the offering.
This will be the issuer's second medium-term notes this year.