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Gansu Dunhuang Seed to issue RMB 130 mln bills

Sep. 13, 2012 (China Knowledge) - Gansu Dunhuang Seed Co Ltd, which is mainly engaged in crop seeds & cotton business, has announced it will issue RMB 130 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 19, and the to-be-issued bills tradable Sep 20.

RMB 130 million of the proceeds from the issue will be used to repay bank loans, said the issuer.

Dagong Global Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA- and A-1, respectively.

Shanghai Pudong Development Bank Co Ltd<600000> has been hired as lead underwriter and bookrunner.

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