Aug. 2, 2012 (China Knowledge) - SDIC Xinji Energy Co Ltd<601918
>, principally engaged in the exploration, washing, processing and marketing of coal in China, announced that it plans to issue RMB 500 million worth of short-term bills with a maturity of 365 days on the interbank market on Aug 7.
The company said in a statement 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 Aug 8, and the to-be-issued bills tradable Aug 9.
Dagong Global Credit Rating Co Ltd has rated the issuer and the bills AA+ and A-1, respectively.
Bank of China (BOC)<601988
> has been assigned as the lead underwriter and bookrunner. CITIC Securities Co<600030
><6030> will be the joint lead underwriter for the offering.
The issuer said that all the proceeds from the issue will be used to repay bank loans.