Apr. 13, 2012 (China Knowledge) – Jiangsu Yangnong Chemical Group Co Ltd, the parent company of Jiangsu
Yangnong Chemical Co<600486
>, announced it will issue RMB 300 million in short-term bills with a maturity of 365 days on the interbank market on April 18.
The company said in a statement filed with Shanghai Stock Exchange
that the bills will be issued at the face value, and the coupon rate will be determined in the process of bookbuilding.
Both value date and payment due date will be April 19, and the to-be-issued bills are tradable on April 20.
Proceeds from the issue will be used to repay bank loans.
China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.
Agriculture Bank of China<601288
>has been assigned as the lead underwriter and bookrunner.
This is the issuer's first short-term bill this year.