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