Sep. 18, 2012 (China Knowledge) - Hubei Energy Group Co Ltd<000883>, which is principally engaged in the investment, management, and development of energy project as well as real property project, has announced it will issue RMB 2 billion 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 repay bank loans, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.
China Construction Bank Co Ltd<601939
> has been hired as lead underwriter and bookrunner. China Everbright Bank Co Ltd<601818> will be the joint lead underwriter for the offering.