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Guangzhou Get Holding to issue RMB 1.6 bln MTN

Nov. 20, 2012 (China Knowledge) - State-owned Guangzhou Get Holding Co Ltd has announced it plans to issue RMB 1.6 billion in medium-term notes with a maturity of five years in the interbank market on Nov 27.

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 28, and the to-be-issued notes tradable Nov 29.

RMB 1 billion of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 600 million 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 Everbright Bank Co Ltd<601818> has been assigned as the lead underwriter and book-runner for the offering.

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