Sep. 13, 2012 (China Knowledge) - Shanghai Metersbonwe Fashion & Accessories Co Ltd<002269
>, one of China's leading manufacturers of casual wear, has announced it will issue RMB 800 million in short-term bills with a maturity of 365 days in the interbank market on Sep 19.
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 21, and the to-be-issued bills tradable Sep 24.
RMB 300 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 500 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.
China Merchant Bank <600036
> has been assigned as the lead underwriter and book-runner. China Minsheng Banking Corp Ltd<600016
> will be joint lead underwriter for the offering.