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Gansu Provincial Highway Aviation to issue RMB 2 bln bills

Aug. 17, 2012 (China Knowledge) - Gansu Provincial Highway Aviation Tourism Investment Group Co Ltd has announced that it will issue RMB 2 billion in unsecured bills with a maturity of 365 days on the interbank market on Aug. 24.

The company said 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 will be on Aug. 27, and the to-be-issued bills  tradable on Aug. 28.

Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.
China Zheshang Bank has been assigned as book-runner and lead underwriter for the offering.

In the first quarter of this year, the company's net profit was RMB 176 million and its operating revenue was RMB 1 billion.

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