Nov. 30, 2012 (China Knowledge) - Chengdu
Public Transport Group Co Ltd has said it plans to issue RMB 250 million in medium-term notes with a maturity of five years in the interbank market on Dec 7.
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 10, and the to-be-issued notes tradable Dec 11.
RMB 150 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 100 million to repay bank loans, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
Bank of Shanghai has been hired as lead underwriter and bookrunner for the offering.