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Xiamen Tungsten to issue RMB 300 mln in bills

Jan. 13, 2012 (China Knowledge) - Xiamen Tungsten Co Ltd<600549>, China's largest producer and exporter of tungsten and molybdenum, has said that it will issue RMB 300 million worth of secured short-term bills with a maturity of 366 days on January 17.

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 19, and the to-be-issued bills are tradable on January 20.

Proceeds from the deal will be used for the purchase of raw materials.

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

China CITIC Bank Corp<601998><0998> has been hired as lead underwriter for the offering.

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