Sep. 18, 2012 (China Knowledge) - Guangzhou
Textile Industry & Trade Holdings Ltd, which was mainly engaged in traditional manufacturing, education and research, modern commerce and foreign trade of textile, has announced it will issue RMB 200 million in short-term bills with a maturity of 365 days in the interbank market on Sep 25.
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 26, and the to-be-issued bills tradable Sep 27.
All of the 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.
Bank Of Beijing Co Ltd<601169
> has been hired as lead underwriter and bookrunner.