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Luzhou Laojiao Group to issue RMB 1 bln bills

Jun. 29, 2012 (China Knowledge) - Luzhou Laojiao Group Co announced today that it will issue RMB 1 billion in unsecured bills with a maturity of 365 days on the interbank market on Jul. 4, sources reported.

The company said that the bills will be issued at the face value, and the coupon rate will be determined in the process of book-building.

Both value date and payment due date will be Jul. 6, and the to-be-issued bills are tradable on Jul. 9.

China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.

China Minsheng Banking Corp Ltd<600016><1988> has been assigned as the lead underwriter and book-runner for the offering.

This will be the issuer's first short-term bill this year, sources reported.

In the first quarter of this year, the company's net profit was RMB 368 million and its operating revenue was RMB 3.28 billion.

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