Jul. 19, 2012 (China Knowledge) - Shandong Province
-based Yanggu Xiangguang Copper Co has said that it will issue RMB 500 million in unsecured bills with a maturity of 365 days on the interbank market on Jul. 26, 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. 27, and the to-be-issued bills are tradable on Jul. 30.
China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.
China Development Bank has been assigned as book-runner and lead underwriter for the offering.
This will be the first short-term bills issued by the company this year.
Proceeds from the deal will be used to replenish the company's working capital.