Nov. 13, 2012 (China Knowledge) - Sichuan Expressway Co Ltd<601107
>, which is principally engaged in the management of the Sichuan-Chongqing Expressway, 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 16.
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 20, and the to-be-issued notes tradable Nov 21.
All the proceeds from the issue will be used 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 CITIC Bank <601998
> has been hired as lead underwriter for the offering.
This will be the company's second medium-term notes this year.