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Shanxi Lanhua to issue RMB 600 mln bills

Jun. 5, 2012 (China Knowledge) – Shanxi Lanhua Coal Mining Group Co Ltd, announced its plan to issue RMB 600 million in short-term bills with a maturity of 365 days on the interbank market on Jun 12.

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 date is set on Jun 13, and the to-be-issued bills tradable Jun 14.

RMB 400 million of the proceeds will be used to repay bank loans and the remaining RMB 200 million to replenish working capital, said the issuer.

China Chengxin International Credit Rating Co Ltd has rated the issuer and the bills AA and A-1, respectively.

China Construction Bank<601939><0939>has been assigned as the lead underwriter and bookrunner for the offering.

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