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Dalian Zhangzidao to issue RMB 400 mln bills

May. 7, 2012 (China Knowledge) – Dalian Zhangzidao Fishery Group Co Ltd<002069>, which is engaged in breeding, raising, processing and distributing aquatic products, announced last Friday that it will issue RMB 400 million in unsecured bills with a maturity of 365 days on the interbank market on May 11, sources reported.

According to a statement, 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 14, and the to-be-issued bills are tradable May 15.

The issuer said that RMB 200 million of the proceeds will be used to repay bank loans and the remaining RMB 200 million will be used to replenish working capital.

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

China Merchants Bank<600036><3968>, has been assigned as the lead underwriter and bookrunner for the offering.

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

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