Apr. 17, 2012 (China Knowledge) – Hunan Investment Group<000548
>, announced today that it plans to issue RMB 200 million in short-term bills with a maturity of 365 days on the interbank market on April 24.
The company said in a statement 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 is set on April 25, and the to-be-issued bills tradable on April 26.
Proceeds from the issue will be used to repay bank loans, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and the bills AA- and A-, respectively.
China Minsheng Banking Co, Ltd<600016
> has been assigned as the lead underwriter and bookrunner.
This will be the issuer's first short-term bill this year, sources reported.