Feb. 7, 2012 (China Knowledge) - Jiangxi
Provincial Expressway Investment Group has said that it would issue RMB 3 billion in unsecured bills with a maturity of 366 days on the inter-bank market on February 13.
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 14, and the to-be-issued bills are tradable on February 15.
Dagong Global Credit Rating Co Ltd has rated the bills and the issuer A-1 and AAA, respectively.
China Development Bank has been hired as lead underwriter for the offering and China Minsheng Banking Corp Ltd<600016
> will be joint lead underwriter.
Proceeds from the offering will be used to replenish the firm's working capital and repay bank loans.