China Knowledge reported that Jiangxi Coal Group Corp a state owned coal producer in China will issue CNY 600 million worth of medium term notes with a maturity of three years on November 9.

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 book building. Both value date and payment due date is November 11 and the to-be-issued notes tradable on November 14.

The company will use CNY 200 million of the proceeds to replenish its working capital and the remaining CNY 400 million for project investment.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA and AA respectively. China CITIC Bank Corp has been hired as lead underwriter for the offering.

(Sourced from China Knowledge)