China Knowledge reported that Jilin Yatai Co Ltd which is principally engaged in the manufacture of cement and property operation business plans to issue CNY 1.4 billion worth of unsecured notes with a maturity of five years on the interbank market on November 24.

Coupon rate will be determined in the process of book-building. Both value date and payment due date is November 25 and the to-be-issued notes tradable on November 28. 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 AA and AA respectively.

Shenzhen Development Bank Co Ltd has been assigned as the lead underwriter and bookrunner. Industrial Bank Co Ltd will be the joint lead underwriter.

This will be the issuer's second medium-term note his year, sources reported.

(Sourced from China Knowledge)