Jul. 18, 2012 (China Knowledge) - Shenergy Group, the parent company of Shenergy Co Ltd<600642
>, has said that it will issue RMB 3.5 billion in unsecured bills with a maturity of 365 days on the interbank market on Jul. 20, 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. 23, and the to-be-issued bills are tradable on Jul. 24.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
China International Capital Corp has been assigned as book-runner and lead underwriter for the offering, and Bank of Communications<601328
> will be joint lead underwriter.
This will be the second short-term bills issued by the company this year.
Proceeds from the deal will be used to replenish the group's working capital.