Jun. 8, 2012 (China Knowledge) - Foshan
Saturday Shoes Co Ltd<002291> announced today that it plans to issue RMB 180 million worth of 365-day unsecured bills on the interbank market on Jun. 15, 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 Jun. 18, and the to-be-issued bills tradable on Jun. 19.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills A+ and A-1, respectively.
Industrial Bank Co Ltd<601166
> has been hired as book-runner and lead underwriter for the offering.
Proceeds from the offering will be used to replenish the company's working capital.
In the first quarter of this year, the company's net profit fell 1.83% YoY to RMB 25.17 million, while its core business revenue rose 13.33% to RMB 372.25 million.