Sep. 14, 2012 (China Knowledge) - Ningbo
Development & Investment Group Co Ltd has announced it will issue RMB 500 million in short-term bills with a maturity of 365 days in the interbank market on Sep 21.
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 repay bank loans, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.
Bank of Shanghai Co Ltd has been hired as lead underwriter and bookrunner.