Oct. 18, 2012 (China Knowledge) - Shanghai Urban Construction(Group) Corporation has announced it will issue RMB 1.5 billion in medium-term notes with a maturity of three years in the interbank market on Oct 24.
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.
Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
Bank of Shanghai has been hired as lead underwriter and bookrunner. China Construction Bank <601939
> will be the joint lead underwriter for the offering.