OREANDA-NEWS. July 24, 2014. Jingyuan Coal Group Limited has announced that it will issue RMB 100 million unsecured medium term notes with a maturity of 3 years on the interbank market.

Coupon rate will be determined in the process of bookbuilding and the notes be issued at face value. Both value date and payment due date is set on Jul 25 and the to-be-issued notes tradable.

The proceeds will be used to repay bank loan.

China Chengxin International Credit Rating Co., Ltd has rated both the issuer and notes at AA. The rating agency's view of issuer repayment's ability is strong, and potential unfavourable external economic factors will have little negative impact.

The possibility of default is considered lowest. Shanghai Pudong Development Bank has been mandated as lead underwriter and bookrunner, and Industrial and Commercial Bank of China will be the joint lead underwriter.

This will be the issuer's first medium term notes this year.