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Bailian Group to issue RMB 1 bln bills

Feb. 21, 2012 (China Knowledge) - Bailian Group, the parent co of Shanghai Bailian Group Co Ltd<600631>, has announced plans to issue RMB 1 billion worth of 366-day unsecured bills on the interbank market on Feb. 23.

Coupon rate will be determined in the process of book-building. Both value date and payment due date is Feb. 24, and the to-be-issued bills tradable on Feb. 27.

Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA+ and A-1, respectively.

Industrial and Commercial Bank of China<601398><1398> has been assigned as the lead underwriter and bookrunner.

This will be the issuer's first short-term bill this year.

As of to date, the issuer has RMB 4 billion in bonds, consisting of RMB 2 billion in short-term bills, RMB 1 billion in medium-term notes and RMB 1 billion in corporate bonds.

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