Nov. 15, 2012 (China Knowledge) - Liuzhou Investment Holding Co Ltd, a state owned enterprise based in Liuzhou
Zhuang Autonomous Region, 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 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 400 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 100 million to replenish working capital, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
China Minsheng Banking Corp Ltd<600016
> has been hired as lead underwriter for the offering.