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Beijing New Materials to issue RMB 400 mln MTN

Dec. 6, 2012 (China Knowledge) - Beijing New Building Material(Group) Co Ltd, a subsidiary of China National Building Materials Group Corp, has said it plans to issue RMB 400 million in medium-term notes with a maturity of three years in the interbank market on Dec 13.

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 14, and the to-be-issued notes tradable Dec 17.

All the proceeds from the issue will be used to replenish working capital, said the issuer.

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

CITIC Securities Co<600030> has been hired as lead underwriter and bookrunner. CITIC Bank Corp<601998><0998> will be the joint lead underwriter for the offering.

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







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