Dec. 18, 2012 (China Knowledge) - State-owned Dalian Deta Holding Co Ltd has said it plans to issue RMB 2 billion in medium-term notes with a maturity of three years in the interbank market on Dec 25.
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 26, and the to-be-issued notes tradable Dec 27.
RMB 1.9 billion of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 100 million to replenish working capital, said the issuer.
China Chengxin International 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. Industrial Bank Co Ltd<601166> will be the joint lead underwriter for the offering.
This will be the issuer's first medium-term notes this year.