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Jiangsu Yueda to issue RMB 1 bln in bills

Feb. 1, 2012 (China Knowledge) - State-owned Jiangsu Yueda Group Co announced that it would issue RMB 1 billion in unsecured bills with a maturity of 366 days on the inter-bank market on February 7, 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 8, and the to-be-issued bills are tradable on February 9.
China Chengxin International Credit Rating Co Ltd has rated the bills and the issuer A-1 and AA+, respectively.

China Everbright Bank Co Ltd<601818> has been hired as book runner and lead underwriter for the deal.

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