By Marisa Wong
Madison, Wis., Feb. 11 – China Modern Dairy Holdings Ltd. non-wholly owned subsidiary Modern Farming (Group) Co., Ltd. issued RMB 200 million of 6% three-year notes on Wednesday, according to a company news release.
China Construction Bank Co. Ltd. is the lead underwriter, and China Merchants Bank Co. Ltd. is the co-lead underwriter for this first tranche of medium-term notes.
The subsidiary previously obtained approval to issue up to RMB 1.8 billion of medium-term notes in China.
Proceeds will be used to repay bank loans and for general working capital.
Shanghai Brilliance Credit Rating & Investors Service Co., Ltd. has assigned an AA rating to the notes.
The dairy farming company is based in Maanshan, Anhui, China.
| Issuer: | Modern Farming (Group) Co., Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | RMB 200 million
|
| Maturity: | Feb. 11, 2018
|
| Coupon: | 6%
|
| Underwriters: | China Construction Bank Co. Ltd. (lead), China Merchants Bank Co. Ltd. (co-lead)
|
| Settlement date: | Feb. 11
|
| Rating: | Shanghai Brilliance: AA
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
