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Shenhua Group issues RMB 20 bln in 270-day bills

Jul. 13, 2012 (China Knowledge) - Shenhua Group, the parent company of China Shenhua Energy Co Ltd<601088><1088>, announced that it plans to issue RMB 20 billion in super short-term bills with a maturity of 270 days on the interbank market today.

According to a statement, the power company says 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 is set on Jul. 16 and the to-be-issued bills tradable Jul. 17.

China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.

Industrial Bank Co Ltd<601166> has been assigned as lead underwriter and book-runner, and China CITIC Bank Corp<601998><0998> will be the joint lead underwriter for the offering.
Proceeds from the deal will be used to replenish the company’s working capital.

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

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