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Shanghai Industrial Investment to issue RMB 1 bln in bills

Mar. 13, 2012 (China Knowledge) - Shanghai Industrial Investment (Holdings) Co Ltd, a Hong Kong-registered conglomerate fully-funded by the Shanghai Municipality, announced today that it plans to issue RMB 1 billion worth of 365-day unsecured bills on the interbank market on Mar. 20.

Coupon rate will be determined in the process of book-building and the bills be issued at face value. Both value date and payment due date is Mar. 21, and the to-be-issued bills tradable on Mar. 22.

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 AAA and A-1, respectively.

Bank of Communications<601328><3328> has been assigned as lead underwriter and bookrunner for the offering, and Shanghai Pudong Development Bank Co Ltd<600000> will be joint lead underwriter.

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