Dec. 11, 2012 (China Knowledge) - Henan Transport Investment Group Co Ltd has said it plans to issue RMB 1 billion in medium-term notes with a maturity of five 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 17, and the to-be-issued notes tradable Dec 18.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
China Merchants Bank<600036><3968> has been hired as lead underwriter and bookrunner for the offering.
This will be the issuer's fourth medium-term notes this year.