Nov. 8, 2012 (China Knowledge) - Xiamen Water Co Ltd, a large state owned enterprise in Xiamen
, has announced it plans to issue RMB 400 million in medium-term notes with a maturity of three 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 100 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 300 million to replenish working capital, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
China Construction Bank Corp<601939
> has been hired as lead underwriter and bookrunner for the offering.