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Yunnan Dongyuan Coal and Power to issue RMB 400 mln bills

Jul. 10, 2012 (China Knowledge) – Yunnan Dongyuan Coal and Power Co Ltd has said that it will issue RMB 400 million in unsecured bills with a maturity of 365 days on the interbank market from Jul.12 to Jul.13, sources reported.

The company said that the bills will be issued at 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 A+ and A-1, respectively.
China CITIC Bank Corp<601998><0998> has been assigned as lead underwriter and book-runner for the bill offering. Proceeds from the deal will be used to replenish the company’s working capital and repay bank loans.

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

In the first quarter of this year, the company's net profit was RMB 11.90 million and its operating revenue was RMB 1.02 billion.

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