Jan. 30, 2012 (China Knowledge) - Shenzhen
Sinomaster Investment Group Co Ltd has announced plans to issue RMB 300 million worth of 366-day unsecured bills on the interbank market on February 3.
Coupon rate will be determined in the process of book-building. Both value date and payment due date will be February 6, and the to-be-issued bills are tradable on February 7.
Proceeds from the issuance will be used to repay bank loans and replenish working capital, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.
China Bohai Bank Co Ltd has been assigned as the lead underwriter and bookrunner.
As of to date, the issuer has no bonds.
Based in Shenzhen
Province, the issuer is principally engaged in the development of telecommunication, technology, tourism and real estate, sources reported.