Oct. 29, 2012 (China Knowledge) - Beijing Shunxin Agriculture Co Ltd<000860
>, which is principally engaged in the production and sale of chilled and cooled pork, spirits as well as vegetable and fruit juices, has announced it will issue RMB 1 billion in medium-term notes with a maturity of two years in the interbank market on Nov 6.
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 8, and the to-be-issued notes tradable Nov 9.
RMB 400 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 600 million to repay bank loans, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
Bank of Beijing Co Ltd <601169
> has been hired as lead underwriter and bookrunner, Guangdong development bank will be the joint lead underwriter for the offering.