Aug. 16, 2012 (China Knowledge) - Ningbo Fubon Holding Group Co, the controlling shareholder of Ningbo Fubang Jingye Group Co<600768
>, has announced that it will issue RMB 400 million in unsecured bills with a maturity of 365 days on the interbank market on Aug. 22.
The company said that the bills will be issued at face value, and the coupon rate determined in the process of book-building.
Both value and payment due date will be on Aug. 23, and the to-be-issued bills are tradable Aug. 24.
Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.
China Zheshang Bank has been assigned as book-runner and lead underwriter for the offering, while Huaxia Bank Co Ltd<600015
> will be joint lead underwriter.
In the first quarter of this year, the company's net profit was RMB 70 million and its operating revenue was RMB 1.8 billion.