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Qingdao City Construction Inv’t to issue RMB 2 bln MTN

Nov. 6, 2012 (China Knowledge) - State owned Qingdao City Construction Investment Group Co Ltd, has announced it plans to issue RMB 2 billion in medium-term notes with a maturity of five years in the interbank market on Nov 13.

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 15, and the to-be-issued notes tradable Nov 16.

All the proceeds from the issue will be used to invest a project, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.

Shanghai Pudong Development Bank Co Ltd<600000> has been hired as lead underwriter and bookrunner for the offering.

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