• 2012 May 18 18:06

  Jiangsu Taicang Port issues CNY 800 million bonds

  

  China Knowledge reported that Jiangsu Province Taicang Port Development and Construction Investment Co began issuing CNY 800 million bonds with a maturity of seven years on the interbank market yesterday till May 22.
  
  Coupon rate of the fixed-rate bonds will be 7.66% based on the Shanghai Interbank Offered Rate plus basic spread of 257 basis points. Both value date and payment due date was set yesterday.
  
  The issuer said proceeds from the issue will be used to repay bank loans and replenish working capital.
  
  Dagong Global Credit Rating Co Ltd has rated the issuer and secured bonds AA and AA respectively.
  
  Guotai Juan Securities has been assigned as the lead underwriter and bookrunner.
  
  

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