Jan. 11, 2012 (China Knowledge) - Yibin
Tianyuan Group Co Ltd<002386>, which is principally engaged in the production and distribution of chlor-alkali chemicals, said today that it will issue RMB 800 million worth of bonds on the interbank bond market with a maturity of three years on January 16.
The company said in a statement that the bonds 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 17 and the to-be-issued bonds are tradable on January 18.
The company will use the proceeds to replenish its working capital and repay bank loans.
Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bonds AA and AA, respectively.
Agricultural Bank of China Ltd or ABC<601288
> has been hired as lead underwriter for the deal.