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TCL to issue RMB 1 bln MTN

Nov. 9, 2012 (China Knowledge) - TCL Corporation<000100>, a major Chinese television and mobile phone manufacturer, has announced it plans to issue RMB 1 billion in medium-term notes with a maturity of five years in the interbank market on Nov 14.

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.

RMB 500 million of the proceeds from the issue will be used to repay bank loans,while the remaining RMB 500 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 Development Bank has been hired as lead underwriter and bookrunner. The Export-Import Bank of China will be joint lead underwriter for the offering.

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