May. 25, 2012 (China Knowledge) - Sanhua Holding Group, the parent of Zhejiang Sanhua Co<002050
>, announced today that it plans to issue RMB 600 million worth of 365-day unsecured bills on the interbank market on May 30, sources reported.
Coupon rate will be determined in the process of book-building and the bills be issued at face value.
Both value date and payment due date is May 31 and the to-be-issued bills tradable on Jun. 1.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA and A-1, respectively.
China Merchants Bank<600036
> has been hired as book-runner and lead underwriter for the offering. Zhejiang
Province-based Sanhua Holding realized RMB 1.4 billion in profit and RMB 8.74 billion in sales revenue in 2011. At the end of last year, the company's total assets had reached RMB 12.49 billion.