Aug. 31, 2012 (China Knowledge) - Liaoning
Huajin Tongda Chemicals Co Ltd<000059
>, a China-based chemical fertilizer manufacturer, has announced it will issue RMB 1 billion 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 issuer and bills AA+ and A-1, respectively.
Bank of China<601988
> has been assigned as the lead underwriter and bookrunner. China Minsheng Banking Corp Ltd<600016
> will be the joint lead underwriter for the offering.