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Xiamen Tungsten to issue RMB 500 mln bills

Jul. 9, 2012 (China Knowledge) - Xiamen Tungsten Co Ltd<600549>, China's largest producer of tungsten, will issue RMB 500 million in unsecured bills with a maturity of 365 days on the interbank market on Jul. 12, 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. 16, and the to-be-issued bills are tradable on Jul. 17.

China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA and A-1, respectively.
China CITIC Bank Corp<601998><0998> has been assigned as lead underwriter and book-runner for the bill offering.

This will be the second short-term bills issued by the company this year.

In the first quarter of this year, the company's net profit was RMB 170 million and its operating revenue was RMB 1.85 billion.

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