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Guangdong Wens Food to issue RMB 300 mln bills

Sep. 20, 2012 (China Knowledge) - Guangdong Wens Food Group Co Ltd, a poultry company based in Guangdong Province, has announced plans to issue RMB 300 million in unsecured 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 the proceeds from the issue will be used to replenish working capital, said the issuer.

China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA and A-1, respectively.

Agricultural Bank of China Ltd<601288><1288> has been assigned as the lead underwriter and bookrunner for the offering.

This will be the issuer's second short-term bills this year.

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