China Knowledge reported that Guangzhou Metro Corp announced today that it plans to issue CNY 3 billion worth of unsecured notes with a maturity of five years on the interbank market on December 22.

The group said in a statement that the notes will be issued at face value and coupon rate will be determined in the process of book-building. Both value date and payment due date is December 23 and the to be issued notes are tradable on December 26.

The issuer said proceeds from the issue will be used to repay bank loans and replenish the firm working capital.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and AAA respectively.

China Construction Bank Co and Bank of China Ltd have been assigned as joint lead underwriters for the deal.

(Sourced from China Knowledge)