Oct. 31, 2012 (China Knowledge) - Jiangsu Yueda Group Co Ltd, one of the top ten key enterprises in Jiangsu
Province, has announced it will issue RMB 1.2 billion in medium-term notes with a maturity of three 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 7, and the to-be-issued notes tradable Nov 8.
RMB 360 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 840 million to replenish working capital, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA+ and A-1, respectively.
China Everbright Bank Co<601818> has been hired as lead underwriter and bookrunner for the offering.