May. 15, 2012 (China Knowledge) – Hunan
Jinxin Gold Group Co Ltd announced today that it will issue RMB 400 million in short-term bills with a maturity of 365 days on the interbank market on May22.
According to a statement, the company said 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 dateisMay 24, and the to-be-issued bills are tradable on May 25.
Proceeds from the issue will be used to replenish working capital and repay bank loans, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and the bills AA- and A-1, respectively.Shanghai
Pudong Development Bank<600000
>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.