Sep. 18, 2012 (China Knowledge) - Dymatic Chemicals Inc, which is mainly engaged in the produce of textile auxiliaries and other fine chemicals in China, has announced it will issue RMB 100 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 27, and the to-be-issued bills tradable Sep 28.
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 notes AA- and A-1, respectively.
China Merchants Bank<600036
> has been hired as lead underwriter and bookrunner.