Nov. 13, 2012 (China Knowledge) - Hongdou Group, the parent company of Jiangsu Hongdou Industry Co<600400
>, has announced it plans to issue RMB 400 million in medium-term notes with a maturity of five years in the interbank market on Nov 20.
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 21, and the to-be-issued notes tradable Nov 22.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
China Lianhe 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 for the offering.
This will be the company's third medium-term notes this year.