China Knowledge reported that China Rizhao Port Co Ltd the parent company of Shanghai-listed Rizhao Port Co Ltd will issue CNY 900 million worth of medium-term notes on the interbank bond market with a maturity of three years on November 17.

The company said in a statement that the notes will be issued at face value and the coupon rate be determined during the process of bookbuilding.

Both value date and payment due date is November 18 and the to-be-issued notes tradable on Nov. 21.

The company will use the proceeds to repay bank loans and replenish its working capital. Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA and AA respectively.

Agricultural Bank of China Ltd or ABC has been hired as joint lead underwriter for the offering.

(Sourced from China Knowledge)