By Susanna Moon
Chicago, June 1 - Dalian Port (PDA) Co. Ltd. said it issued RMB 1.5 billion of 4.28% five-year medium-term notes on May 27 in the first tranche.
Agricultural Bank of China is the lead underwriter.
Proceeds will be used to supplement working capital, to meet investment requirements and to repay existing bank loans with a higher interest rate.
The second tranche of 2009 medium-term notes is expected to be issued on Monday, and the results of the issue will be published June 4.
On Dec. 8, 2008, the company said it was planning to issue up to RMB 2.5 billion of medium-term notes or corporate bonds. A shareholder meeting was to be held on Jan. 23.
The board of directors approved the proposed issuance on Nov. 5, 2008.
The Dalian City, China-based company owns and manages the Port of Dalian.
| Issuer: | Dalian Port (PDA) Co. Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | RMB 1.5 billion
|
| Maturity: | Five years
|
| Underwriter: | Agricultural Bank of China
|
| Coupon: | 4.28%
|
| Pricing date: | May 27
|
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