Nov. 15, 2012 (China Knowledge) - State-owned Guangxi Construction Engineering Group Corporation, which was engaged in building installation, 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 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 22, and the to-be-issued notes tradable Nov 23.
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.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
Huaxia Bank Co Ltd<600015
> has been assigned as the lead underwriter and book-runner for the offering.
This will be the issuer's second medium-term notes this year.