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Shenergy Group to issue RMB 1.5 bln bills

Jan. 10, 2012 (China Knowledge) - Shenergy Group, wholly-owned by the State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government, plans to issue RMB 1.5 billion worth of 366-day unsecured bills on the interbank market on January 13, sources reported.

Coupon rate will be determined in the process of book-building. Both value date and payment due date will be January 16, and the to-be-issued bills are tradable on January 17.

Proceeds from the issue will be used to replenish working capital, said the issuer, the parent company of Shenergy Co Ltd<600642>.

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

Bank of Communications<601328><3328> and China International Capital Corp have been assigned as the joint lead underwriters.

As of to date, the issuer, along its subsidiaries, has RMB 1 billion in corporate bonds, RMB 7 billion in medium-term notes and RMB 1.5 billion in short-term bills.






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