Aug. 14, 2012 (China Knowledge) - Dragon City Tourism Holding Group has said it would issue RMB 300 million in short-term bills with a maturity of 365 days in the interbank market on Aug 17.
The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building.
Both value and payment due date is set on Aug 20, and the to-be-issued bills tradable Aug 21.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA- and A-1, respectively.
Bank of Nanjing Co Ltd<601009
> has been assigned as the lead underwriter and bookrunner for the offering.
This will be the issuer's second short-term bills this year.