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CHINT Group to issue RMB 1.2 bln MTN

Dec. 5, 2012 (China Knowledge) - CHINT Group Corp, one of China's leading low-voltage electrical product suppliers, has said it plans to issue RMB 1.2 billion in medium-term notes with a maturity of three years in the interbank market on Dec 11.

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 12, and the to-be-issued notes tradable Dec 13.

All the proceeds from the issue will be used to repay bank loans, said the issuer.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.

China Development Bank has been hired as lead underwriter and bookrunner for the offering.

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