May. 3, 2012 (China Knowledge) – Beijing
Orient Landscape Group, announced today that it will issue RMB 250 million in unsecured bills with a maturity of 365 days on the interbank market on May 8, 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 is set on May 9, and the to-be-issued bills are tradable May 10.
The issuer said that all the proceeds from the issue will be used to replenish working capital.Shanghai
Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA- and A-1, respectively.
Bank of Beijing<601169
>has been assigned as the lead underwriter and bookrunner for the offering.
This will be the issuer's first short-term bill this year, sources reported.