TCL To Issue 2B Yuan Of MTNs


October 25 -- TCL Corporation (000100.SZ) plans to issue two billion yuan worth of MTNs on November 1, reports, citing a company filing.

One billion yuan of the total would consist of three-year MTNs, while the remainder would be made up of five-year MTNs.

The value date of both types of MTNs is November 2, and trading of the MTNs will start on November 3.

The three-year MTNs will mature on November 2, 2014, while the five-year MTNs will mature on November 2, 2016.

The National Development Bank and the Export-Import Bank of China are the joint-lead underwriters of the issuance.

Fifty percent of the funds raised will be used to replenish the working capital of TCL and some of its subsidiaries, while the remainder will be used to repay bank loans.



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