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Zhongjin Lingnan Nonfemet to issue RMB 500 mln in bills

Jan. 4, 2012 (China Knowledge) - Shenzhen Zhongjin Lingnan Nonfemet Co Ltd<000060>, China's third-largest zinc producer, has said that it will issue RMB 500 million worth of short-term bills with a maturity of 366 days on January 10.

The company said in a statement that the bills will be issued at face value, and the coupon rate will be determined during the process of bookbuilding.

Both value date and payment due date is January 11, and the to-be-issued bills are tradable on January 12.

Proceeds from the deal will be used to repay bank loans.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA+ and A-1, respectively.

China Guangfa Bank has been hired as lead underwriter for the offering.

In the first three quarters, the company's net profit surged 78.57% year on year to RMB 715 million and its operating revenue jumped 29.03% to RMB 9.19 billion.

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