China State Construction Engineering to issue RMB 6.2 bln notes

Published: 19 Dec 2008 02:01:41 PST

Dec. 19, 2008 (China Knowledge) - China State Construction Engineering Corp Ltd (CSCEC) announced that it will issue RMB 6.2 billion medium-term notes with a maturity of five years in the interbank bond market on Dec. 25, market sources reported.

CSCEC said in a statement that the coupon rate of the notes will be decided during the process of book building. Proceeds from the notes offering will be used to repay loan and replenish working capital.

China Cheng Xin International Credit Rating Co has rated the issuer and the bonds AAA and AAA level, respectively.

China International Capital Corp Ltd and Agricultural Bank of China (ABC) have been assigned as joint major underwriters for the issuance

CSCEC is one of the key state-owned enterprises under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), according to the company's profile.

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