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Shenhua Group to issue RMB 7 bln bills

Jul. 25, 2012 (China Knowledge) – Shenhua Group, the parent company of China Shenhua Energy Co Ltd<601088><1088>, said it plans to issue RMB 7 billion in super short-term bills with a maturity of 270 days in the interbank market on July 25.

According to a statement, the power 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 is set on July 26, and the to-be-issued bills are tradable July 27.

All the proceeds will be used to replenish working capital, said the issuer.

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

Industrial Bank Co Ltd<601166> has been assigned as lead underwriter and bookrunner. China CITIC Bank Corp<601998><0998> will be joint lead underwriter for the offering.

This will be the issuer's second super short-term bill this year.

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