Sep. 13, 2012 (China Knowledge) - Wuhan
New Harbor Construction & Investment Development Group Co Ltd, has announced it will issue RMB 800 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 20, and the to-be-issued bills tradable Sep 21.
RMB 250 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 550 million 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.
Shanghai Pudong Development Bank<600000
> has been hired as lead underwriter and bookrunner. China Guangfa Bank will be the joint lead underwriter for the offering.