Jinan City Construction Investment to issue corporate bonds

Published: 25 Mar 2009 23:40:01 PST

Mar. 26, 2009 (China Knowledge) - The state-owned Jinan City Construction Investment Co plans to issue RMB 1.5 billion worth of ten-year corporate bonds today and tomorrow to the domestic institutional investors on the Shanghai Stock Exchange, the Shanghai Securities News reported.

The corporate bonds' coupon rate is 4.78%. The issuer has the option to raise the rate at the end of the seventh year.

The proceeds of the bond offering will be used to finance the construction of Jinan Olympic Center.

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

China Galaxy Securities Co Ltd has been assigned as major underwriter for the sale.

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