Sep. 19, 2012 (China Knowledge) - Shandong
Longlive Bio-technology Co Ltd<002604> has announced it will issue RMB 350 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 28, and the to-be-issued bills tradable Sep 29.
RMB 250 million of the proceeds from the issue will be used to replenish the working capital, while the remaining RMB 100 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.
Huaxia Bank Co Ltd<600015
> has been hired as lead underwriter and bookrunner for the offering.