Oct. 29, 2012 (China Knowledge) - Zhejiang Geely Holding Group Co Ltd<0175
>, the listed unit of China's largest privately-owned carmaker, has announced it will issue RMB 1.5 billion in medium-term notes with a maturity of three years in the interbank market on Nov 2.
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 Nov 6, and the to-be-issued notes tradable Nov 7.
All the proceeds from the issue will be used to replenish working capital, said the issuer.
Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA+ and AA+, respectively.
China CITIC Bank Corp<601998
> has been hired as lead underwriter and bookrunner. Industrial Bank Co Ltd<601166
> will be the joint lead underwriter for the offering.