The bonds bear a fixed annual interest rate of 6.3 percent, lower than the current benchmark one-year lending rate of 6.56 percent and will mature on April 23, 2013.
The bonds were previously registered with the PRC National Association of Financial Market Institutional Investors. Industrial Bank acted as the lead underwriter and bookrunner for the bonds with standby commitment. All of the proceeds from the issuance of the bonds will be used as working capital.
Relevant legal documentation, including the offering circular and issuance announcement are published on the websites of ChinaMoney (http://www.chinamoney.com.cn) and ChinaBond (http://www.chinabond.com.cn).
