China Knowledge reported that Jilin Yatai Co Ltd a property developer and cement producer in China plans to issue CNY 1 billion in notes with a maturity of three years on the inter-bank market on March 28.

The company said in a statement that this batch of notes will be issued at face value and the coupon rate will be determined during the process of book building. Proceeds will be mainly used to replenish the company working capital and repay bank loans.

China Lianhe Credit Rating Co Ltd has rated the notes and issuer AA and AA, respectively. Shenzhen Development Bank Co and Bank of Nanjing Co Ltd have been hired to handle the sale.

(Sourced from China Knowledge)