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Fujian Septwolves Industry to issue RMB 100 mln in bills

Jun. 28, 2012 (China Knowledge) - Fujian Septwolves Industry Co Ltd<002029>, which is engaged in the design, production and sale of men's clothing under the brand name of Septwolves, said that it plans to issue RMB 100 million worth of unsecured short-term bills with a maturity of 365 days on the interbank market on Jul. 4.
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 Jul. 5 and the to-be-issued bills tradable on Jul. 6.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.

Industrial Bank Co Ltd<601166> has been hired as book-runner and lead underwriter for the offering.  

Proceeds from the deal will be used to replenish the company's working capital.

In the first quarter of this year, the company's net profit jumped 37.71% YoY to RMB 173.52 million and its core business revenue rose 26.21% to RMB 946.06 million.

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