Sep. 12, 2012 (China Knowledge) - Orient Group Incorporation<600811
>, mainly engaged in grain and oil purchasing and sale, construction material retailing, household decoration materials, industrial and mining production in China, has announced its plan to issue RMB 500 million in short-term bills with a maturity of 365 days in the interbank market on Sep 17.
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 18, and the to-be-issued bills tradable Sep 19.
Proceeds from the issue will be used to repay bank loans, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA- and A-1, respectively.
China Minsheng Bank<600016
> has been assigned as the lead underwriter and bookrunner.