China Knowledge reported that China Tianrui Group Cement Co a leading clinker and cement producer in Henan and Liaoning provinces will issue CNY 500 million worth of medium-term notes with a maturity of three years in the interbank market on September 17.

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 September 18 and the to-be-issued notes tradable September 19.

The issuer said all the proceeds from the issue will be used to repay bank loans.

Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA and AA respectively.

China Guangfa Bank has been assigned as the lead underwriter and book-runner. Bank of China will be joint lead underwriter for the offering.

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

Source - China Knowledge

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