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Zhengbang Group to issue RMB 300 mln MTN

Nov. 15, 2012 (China Knowledge) - Jiangxi-based Zhengbang Group, a leading agricultural enterprise in China and the parent of Shenzhen-listed Jiangxi Zhengbang Technology Co Ltd<002157>, has announced it plans to issue RMB 300 million in medium-term notes with a maturity of three years in the interbank market on Nov 22.

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 23, and the to-be-issued notes tradable Nov 26.

RMB 150 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 150 million to repay bank loans, said the issuer.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA- and AA-, respectively.

Bank of Beijing Co Ltd <601169> has been assigned as the lead underwriter and book-runner for the offering.

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