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Shenzhen Airport to issue RMB 100 mln in bills

Sep. 29, 2011 (China Knowledge) - Shenzhen Airport Co Ltd<000089>, which is principally engaged in the operation of Shenzhen Airport in Guangdong Province, has announced plans to issue RMB 100 million worth of 365-day unsecured bills on the interbank market on Oct. 10.

In a statement filed with the Shenzhen Stock Exchange, the company said the bills will be floated at face value with coupon rate determined in the process of book building. Both value date and payment due date set at Oct. 12, and the to-be-issued bills tradable on Oct. 13.

Proceeds from the issue will be used to replenish working capital and repay bank loans, the issuer said.

China Lianhe Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.

Shanghai Pudong Development Bank<600000> has been assigned as the lead underwriter and book runner.

This will be Shenzhen Airport's first tranche of short-term bill issue this year.







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