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Jiangsu Communications Holdings to issue RMB 1.4 bln MTN

Nov. 27, 2012 (China Knowledge) - Jiangsu Communications Holdings Co Ltd has said it plans to issue RMB 1.4 billion in medium-term notes with a maturity of ten years in the interbank market on Dec 4.

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 Dec 5, and the to-be-issued notes tradable Dec 6.

RMB 1.15 billion of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 250 million to invest a expressway project, said the issuer.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.

China Construction Bank Co<601939><0939> has been assigned as the lead underwriter and book-runner. China Guangfa Bank will be joint lead underwriter for the offering.

This will be the issuer's second medium-term notes this year.

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