Aug. 15, 2012 (China Knowledge) - Shanghai Pudong Road Bridge Construction Co<600284
> has said it will issue RMB 300 million in short-term bills with a maturity of 365 days on the interbank market on Aug 22.
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 24, and the to-be-issued bills tradable Aug 27.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA and A-1, respectively.
Shanghai Pudong Development Bank<600000
> has been assigned as the lead underwriter and bookrunner for the offering.
This will be the issuer's first short-term bills this year.