Aug. 29, 2012 (China Knowledge) - Kailuan Group, the parent company of Kailuan Energy Chemical Co Ltd<600997>, has said it will issue RMB 900 million in unsecured short-term bills with a maturity of 365 days in the interbank market on Sep 5.
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 Sep 6, and the to-be-issued bills tradable Sep 7.
All the proceeds from the issue will be used to replenish working capital, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issue and bills AAA and A-1, respectively.
China Development Bank has been assigned as the lead underwriter and bookrunner for the offering.
This will be the issuer's first short-term bills this year.