Apr. 17, 2012 (China Knowledge) - China Zhejiang
Great Southeast Group Corp, a major Chinese plastic product supplier, has announced plans to issue RMB 200 million worth of 365-day unsecured bills on the interbank market on Apr. 23.
Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is Apr. 24, and the to-be-issued bills tradable on Apr. 25.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer and bills A+ and A-1, respectively.
China Minsheng Banking<600016
> has been assigned as the lead underwriter and bookrunner.
This will be the issuer's first short-term bill this year, sources reported.