May. 10, 2012 (China Knowledge) – Nanjing Chemical Industry Park Co Ltd announced yesterday it will issue RMB 500 million worth of notes with a maturity of three years in the interbank market on May. 15.

Coupon rate will be determined in the process of bookbuilding and the notes will be issued at face value. Both value date and payment due date is set on May. 17 and the to-be-issued notes tradable May. 18.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA- and AA-, respectively.

Shanghai Pudong Development Bank<600000> and China Development Bank or CDB have been hired as joint lead underwriter for the offering.

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

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