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Changjiang Electronics to issue RMB 400 mln bills

Apr. 18, 2012 (China Knowledge) – Jiangsu Changjiang Electronics Technology Co Ltd, which is principally engaged in the manufacturing of discrete semiconductor devices, announced today that it will issue RMB 400 million in unsecured bills with a maturity of 365 days on the interbank market on April 25, sources reported.

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 will be April 26, and the to-be-issued bills are tradable on April 27.

RMB 200 million of the proceeds from the issue will be used to repay bank loans, and the rest RMB 200 million will be used to replenish working capital, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.

Industrial Banking Co Ltd<600016> has been assigned as the lead underwriter and bookrunner. Bank of China<601988><3988> will be the joint lead underwriter.

This will be the issuer's first short-term bill this year, sources reported.

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