Sep. 12, 2012 (China Knowledge) - Xizi Elevator Group Co, a core unit of Xizi UHC, has announced it will issue RMB 300 million in unsecured short-term bills with a maturity of 365 days in the interbank market on Sep 14.
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 17, and the to-be-issued bills tradable Sep 18.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA- and A-1, respectively.
Bank of Beijing Co Ltd<601169
> has been assigned as the lead underwriter and bookrunner. China Merchants Bank<600036
> will be the joint lead underwriter for the offering.
This will be the issuer's second short-term bills this year.