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Zhejiang Wanliyang Transmission Co to issue RMB 300 mln bills

Sep. 14, 2012 (China Knowledge) - Zhejiang Wanliyang Transmission Co Ltd, which engages in the research, development, manufacture, and distribution of automobile transmission products, has announced it will issue RMB 300 million in short-term bills with a maturity of 365 days in the interbank market on Sep 20.

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 24, and the to-be-issued bills tradable Sep 25.

All proceeds from the issue will be used to replenish working capital, said the issuer.

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

China Merchants Bank Co Ltd<600036><3968> has been hired as lead underwriter and bookrunner.

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