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Beijing Hualian Department to issue RMB 600 mln bills

Sep. 19, 2012 (China Knowledge) - Beijing Hualian Department Store Co Ltd<000882>, which is mainly engaged in the operation and management of shopping centers, as well as general merchandise distribution business, has announced it will issue RMB 600 million in short-term bills with a maturity of 365 days in the interbank market on Sep 26.

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.

RMB 180 million of the proceeds from the issue will be used to replenish the working capital, while the remaining RMB 420 million to repay bank loans, 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 for the offering.







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