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Nantong Sijian Construction Group to issue RMB 250 mln in bills

Jun. 26, 2012 (China Knowledge) - Jiangsu Province-based Nantong Sijian Construction Group Co has said that it plans to issue RMB 250 million worth of unsecured short-term bills with a maturity of 365 days on the interbank market on Jun. 28.
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 Lianhe Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.

Agricultural Bank of China Ltd or ABC<601288><1288> has been hired as book-runner and lead underwriter for the offering.

Proceeds from the deal will be use to replenish its working capital.

In the first quarter of this year, the group's net profit was RMB 20.44 million and its operating revenue was RMB 1.66 billion.

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