China Modern Dairy unit to issue RMB300m notes
China Modern Dairy Holdings Ltd. (HKEX:1117) announced that its non-wholly owned subsidiary, Modern Farming (Group) Co., Ltd., has secured approval to issue domestic medium-term notes in the People's Republic of China. The issuance will total RMB300 million, with an annual interest rate of 2.75% and a term of three years. These Medium-term Notes will be offered to qualified domestic institutional investors in the PRC. Post Savings Bank of China Co., Ltd. is the lead underwriter, with China Merchants Bank Co., Ltd. acting as co-lead underwriter. The Issuer has been rated AA+ by Golden Credit Rating International Co., Ltd. The company intends to use the proceeds for rural revitalization efforts, the daily operation, and to cover operational expenses such as the purchase of silage and other feeds from local farmers, as well as to settle bank borrowings or notes payable generated by the purchase of silage and other feeds.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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