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China South Industries Group to issue RMB 1.9 bln bills

Sep. 14, 2012 (China Knowledge) - China South Industries Group Corp, a manufacturer of automobiles, motorcycles, vehicle components, optical-electronic products and other specialized products, has announced it will issue RMB 1.9 billion in super short-term bills with a maturity of 270 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.

All the proceeds from the issue will be used to repay bank loans, said the issuer.

China Lianhe Credit Rating Co Ltd has rated the issuer AAA.

China Construction Bank <601939><0939> has been hired as lead underwriter and book-runner. Agricultural Bank of China<601288><1288> will be the joint lead underwriter for the offering.

This will be the issuer's second super short-term bills this year.

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