Jul. 3, 2012 (China Knowledge) - Chongqing
Lifan Holding Co Ltd, the parent company of Lifan Industry (Group) Co Ltd<601777>, has said that it will issue RMB 400 million 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. 5, and the to-be-issued bills are tradable on Jul. 6.
China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.
China CITIC Bank Corp<601998
> has been assigned as the lead underwriter and book-runner for the offering. Proceeds from the deal will be used to repay bank loans.
This will be the issuer's second short-term bill this year, sources reported.