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Shaanxi Nonferrous Metals to issue RMB 1 bln in bills

Jan. 30, 2012 (China Knowledge) - Shaanxi Nonferrous Metals Holding Group Co Ltd announced that it would issue RMB 1 billion in bills with a maturity of 366 days on the inter-bank market on February 2, sources reported.

The firm said in a statement that this batch of 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 set at February 3, and the to-be-issued bills are tradable on February 6.

Proceeds from the offering will be used to replenish the firm's working capital and repay bank loans.

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

Industrial Bank Co Ltd<601166> has been hired as book runner and lead underwriter for the deal.

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