China Knowledge reported that Jiangxi Xinxin Industrial Co Ltd which is principally engaged in the distribution and publishing of books will issue CNY 500 million worth of 3 year notes on the interbank market on July 26.

The company said in a statement filed with the Shanghai Stock Exchange, the coupon rate will be determined in the process of book building. Both value date and payment due date will be July 28 and to be issued notes will become tradable on July 29.

Proceeds from the issue will be used to replenish working capital, said the issuer. Dagong Global Credit Rating Co Ltd has rated the issuer and un-secured notes AA and AA respectively.

China CITIC Bank Corp the listed banking unit of China largest investment conglomerate China CITIC Group has been assigned as the lead underwriter.

(Sourced from China Knowledge)