Sep. 12, 2012 (China Knowledge) - Sichuan Hydropower Investment & Management Group Ltd, a state-owned enterprise in Sichuan
mainly engaged in the business of electronics, electronic equipment manufacturing and real estate, has announced it will issue RMB 500 million in short-term bills with a maturity of 365 days in the interbank market on Sep 18.
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 19, and the to-be-issued bills tradable Sep 20.
RMB 200 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 300 million to repay bank loans, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA and A-1, respectively.
Industrial Bank Ltd<601166
> has been assigned as the lead underwriter and bookrunner for the offering.