May. 18, 2012 (China Knowledge) - Chongqing
Yufu Expressway Co Ltd has announced plans to issue RMB 400 million worth of 365-day unsecured bills on the interbank market on May 22.
Coupon rate will be determined in the process of book-building. Both value date and payment due date is set on May 23, and the to-be-issued bills tradable May 24.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills A+ and A-1, respectively.
Evergrowing Bank Co Ltd has been assigned as the lead underwriter and bookrunner.
This will be the issuer's first short-term bill this year.