China Knowledge reported that Huainan Mining Industry Co Ltd plans to issue CNY 3.5 billion worth of unsecured notes with a maturity of five years on the interbank market on December 28.

Coupon rate will be determined in the process of book-building. Both value date and payment due date will be December 29 and the to-be-issued notes are tradable on December 30.

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

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

China Construction Bank and China Minsheng Banking have been assigned as the joint underwriters.

(Sourced from China Knowledge)