Aug. 30, 2012 (China Knowledge) - Shandong Province-based
Yanggu Xiangguang Copper Co has said that it will issue RMB 500 million in unsecured bills with a maturity of 365 days on the interbank market on Sep. 3.
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 Sep. 4, and the to-be-issued bills tradable on Sep. 5.
China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.
China Development Bank has been assigned as book-runner and lead underwriter for the offering.
This will be the second short-term bills issued by the company this year.
In the first quarter of this year, the company's net profit was RMB 96.73 million and its operating revenue was RMB 5.86 billion.