Jun. 7, 2012 (China Knowledge) - Chongqing
Lummy Pharmaceutical Co Ltd, listed on ChiNext in Shenzhen Stock Exchange
, has announced plans to issue RMB 120 million worth of 365-day unsecured bills on the interbank market on Jun. 12 and Jun. 13.
Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is set on Jun. 14, and the to-be-issued bills tradable Jun. 15.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer. Shanghai
Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills A+ 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.