Sep. 19, 2012 (China Knowledge) - Daqo Group Co Ltd, a leading dealer of polysilicon materials in China, has announced it will issue RMB 400 million in medium-term notes with a maturity of three years in the interbank market on Sep 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 Sep 26, and the to-be-issued notes tradable Sep 27.

RMB 200 million of the proceeds from the issue will be used to replenish the working capital, while the remaining RMB 200 million to repay bank loans, said the issuer.

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

Industrial and Commercial Bank of China<601398><1398> has been hired as lead underwriter and bookrunner.