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Qingdao Conson Development Group to issue RMB 500 mln MTN

Nov. 8, 2012 (China Knowledge) - State owned Qingdao Conson Development (Group) Co Ltd, has announced it plans to issue RMB 500 million in medium-term notes with a maturity of five years in the interbank market on Nov 15.

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 16, and the to-be-issued notes tradable Nov 19.

RMB 430 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 70 million to invest a project, said the issuer.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.

China Development Bank has been hired as lead underwriter and bookrunner for the offering.







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