Jun. 1, 2012 (China Knowledge) - China Dalian International Economic & Technical Cooperation Group Co Ltd, the parent company of China Dalian International Corp<000881
>, has announced plans to issue RMB 200 million worth of 365-day unsecured bills on the interbank market on Jun. 5.
Coupon rate will be determined in the process of book-building. Both value date and payment due date is set on Jun. 6, and the to-be-issued bills tradable Jun. 7.
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 AA and A-1, respectively.
China Merchants Bank<600036
> has been assigned as the lead underwriter and bookrunner.
This will be the issuer's first short-term bill this year, sources reported.