Shandong surge protective devices Gold Group to issue RMB 1 bln in corporate bonds
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Shandong Gold Group to issue RMB 1 bln in corporate bondsPublished: 27 May 2009 23:38:02 PST

Top 5 News From ChinaKnowledge.comFranshion Property obtains RMB 4.5-bln credit lineCNOOC receives 1st LNG shipment from IndonesiaBOC not to privatize Hong Kong unitCCTV sees ad revenue swell 20% in 4 monthsSino Land sees bright future for Wu Kai Sha project Lake SilverMay. 28, 2009 (China Knowledge) - Shandong Gold Group, parent of Shandong Gold Mining Co Ltd<600547>, said its directorate has approved a proposal to issue RMB 1 billion in corporate bonds to domestic institutional investors on the interbank market on May 26, the Shanghai Securities News reported.

The five-year corporate bonds will be issued at the face value with a coupon rate of 4.60% via the sales network provided by the underwriters.

The value date will start on May 26, 2009 and the maturity date will be May 26, 2014, according to the company's statement.

Proceeds from the issuance will be used to acquire equity interest of four gold ore and iron ore firms in China, replenish working capital and repay bank loans.

China Lianhe Credit Rating Co Ltd has rated the issuer and the bills AA- and AA+.

China Securities Co Ltd, Qilu Securities Co Ltd and China International Capital Corp have been assigned as the major underwriters for the sale.


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