Jan. 19, 2012 (China Knowledge) - Zhanjiang Port (Group) Co Ltd said yesterday that it will issue RMB 500 million worth of short-term bills with a maturity of 365 days on January 30.
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 31, and the to-be-issued bills are tradable on February 1.
Proceeds from the deal will be used to replenish the firm's working capital and repay bank loans.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA and A-1, respectively.
China Everbright Bank Co Ltd<601818> has been hired as lead underwriter for the offering.