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Beijing Textile Holding to issue RMB 550 mln bills

Aug. 2, 2012 (China Knowledge) - State-owned Beijing Textile Holding Co Ltd announced today that it will issue RMB 550 million in unsecured bills with a maturity of 365 days on the interbank market on Aug. 8, 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 on Aug. 9, and the to-be-issued bills are tradable on Aug. 10.

Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.
Bank of Beijing Co Ltd <601169> 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.

In 2011, the company's operating revenue was RMB 7.5 billion and export value reached US$300 million. As of the end of last year, the firm's total assets had hit RMB 13.3 billion.

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