Mar. 1, 2012 (China Knowledge) - Better Life Investment Group, the parent co of Better Life Commercial Chain Share Co Ltd<002251
>, principally engaged in the wholesale and retail business, has said it will issue RMB 300 million worth of 365-day unsecured bills on the interbank market on Mar. 2.
Coupon rate will be determined in the process of book-building. Both value date and payment due date is Mar. 5, and the to-be-issued bills tradable on Mar. 6.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.
Bank of China<601988
> 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 300 million in bonds.
At the end of last September, the issuer had RMB 1.82 billion in total assets, and its total liabilities were RMB 1.55 billion, including RMB 1.24 billion of bank loans.