Jun. 18, 2012 (China Knowledge) - Luoyang
Mining Group Co announced today that it plans to issue RMB 200 million worth of 365-day unsecured bills on the interbank market on Jun. 27, 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. 29, and the to-be-issued bills tradable on Jul. 2.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.
China CITIC Bank Corp<601998
> has been hired as book-runner and lead underwriter for the offering.
Proceeds from the offering will be used to repay bank loans.
In the first nine months of 2011, the company's net profit was 318 million and its operating revenue was RMB 5.08 billion.