Oct. 22, 2012 (China Knowledge) - Huzhou
Communications Investment Group Co Ltd has announced it will issue RMB 500 million 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.
RMB 80 million of the proceeds from the notes will be used to replenish working capital, while the remaining RMB 420 million to repay bank loans, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
Ping An Bank Co<000001> has been hired as lead underwriter and bookrunner for the offering.