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Jiangsu SOHO to issue RMB 1 bln bills

Apr. 26, 2012 (China Knowledge) - Jiangsu SOHO Holding Group Co has announced plans to issue RMB 1 billion worth of 365-day unsecured bills on the interbank market on May 2.

Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is set on May 3, and the to-be-issued bills tradable on May 4.

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 AA and A-1, respectively.

China CITIC Bank Corp<601998><998>, the listed banking unit of the nation's largest investment enterprise CITIC Group, has been assigned as the lead underwriter and bookrunner.

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

As of to date, the issuer, along with its subsidiaries, has placed out RMB 2 billion in bonds.

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