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Yabang Investment to issue RMB 260 mln bills

May. 7, 2012 (China Knowledge) - Yabang Investment Holding Group Co Ltd, an enterprise based in Jiangsu Province, has said it plans to issue RMB 260 million worth of 365-day unsecured bills on the interbank market on May 9.

Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is set on May 10, and the to-be-issued bills tradable May 11.

Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.

Dagong Global 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 second short-term bill this year, sources reported.

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