Nov. 15, 2012 (China Knowledge) - Zhangzhou Jiulongjiang Construction Co, formerly known as Zhangzhou Pientzehuang Group Co, the parent of Zhangzhou Pientzehuang Pharmaceutical Co<600436
>, has announced it plans to issue RMB 600 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 invest a project, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
Industrial Bank Co Ltd<601166
> has been hired as lead underwriter for the offering.
This will be the issuer's third medium-term notes this year.