Guangdon chaussure shox g Communication Group to issue short-term bonds

Guangdon chaussure shox g Communication Group to issue short-term bonds
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Guangdong Communication Group to issue short-term bondsPublished: 16 Dec 2008 02:10:43 PST

Dec. 16, 2008 (China Knowledge) - Guangdong Communication Group Co Ltd, a stated-owned enterprise principally engaged in construction of high way projects in Guangdong province, announced on Tuesday it will issue RMB 1.5 billion short-term bonds with a maturity of 365 days on the interbank market on Dec. 23, market sources reported.

The company said in a statement that this batch of bonds will be issued at the face value and the yield will be determined in the process of book building.

Both value date and payment due date will start from Dec. 24, and the proceeds from the issuance will be used to replenish working capital, repay bank loans and optimize financial structure, according to the company.

China Lianhe Credit Rating Co Ltd has rated the issuer and the bonds AA+ and A-1 respectively.

China CITIC Bank Co<601998><998> has been assigned as major underwriter for the issuance.

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