Nov. 27, 2012 (China Knowledge) - China's Shanshan Group, the parent of Ningbo Shanshan Co Ltd<600884
>, has said it plans to issue RMB 560 million in medium-term notes with a maturity of five 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.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA and AA, respectively.
China Minsheng Banking Corp Ltd<600016
> has been hired as lead underwriter and bookrunner for the offering.