Oct. 18, 2012 (China Knowledge) - Guangxi Beibu Gulf Investment Group Co Ltd, a state owned enterprise in Guangxi
Zhuang Autonomous Region, has announced it will issue RMB 500 million in medium-term notes with a maturity of three 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 27.
RMB 300 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 200 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
> has been hired as lead underwriter and bookrunner. Industrial and Commercial Bank of China<601398
> will be the joint lead underwriter for the offering.