Feb. 6, 2012 (China Knowledge) - Yonghui Superstores Co Ltd<601933> has said that it would issue RMB 700 million in unsecured bills with a maturity of 366 days on the inter-bank market on February 8.
The firm 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 set at February 9, and the to-be-issued bills are tradable on February 10.
China Lianhe Credit Rating Co Ltd has rated the bills and the issuer A-1 and AA, respectively.
Bank of China Ltd<601988
> has been hired as lead underwriter for the offering and China Merchants Bank<600036
> will be joint lead underwriter.
Proceeds from the offering will be used to replenish the firm's working capital and repay bank loans.