Aug. 27, 2012 (China Knowledge) - Nantian Electronics Information Corp has said today that it will issue RMB 200 million in unsecured bills with a maturity of 365 days on the interbank market on Aug. 30.
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. 31, and the to-be-issued bills tradable Sep. 3.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.
Industrial Bank Co Ltd<601166
> has been assigned as book-runner and lead underwriter for the offering.
Proceeds from the deal will be used to replenish the company's working capital and repay bank loans.
This will be the first short-term bills issued by the company this year.