China Knowledge reported that Tongling Nonferrous Metals Group Holdings Co Ltd based in Tongling, Anhui Province plans to issue CNY 3 billion worth of notes with a maturity of five years on the interbank market on October 26.

Coupon rate will be determined in the process of book building. Both value and payment due date is October 28 and the to-be-issued notes tradable on October 31.

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 bills AA+ and AA+ respectively.

Agricultural Bank of China Ltd has been assigned as the lead underwriter.

(Sourced from China Knowledge)