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Zhengzhou Coal Industry Group to issue RMB 3 billion bills

Sep. 20, 2012 (China Knowledge) - Zhengzhou Coal Industry Group Co Ltd, a state owned coal producer located in Henan Province, has announced it will issue RMB 3 billion in short-term bills with a maturity of 365 days in the interbank market on Sep 27.

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.

All the proceeds from the issue will be used to repay bank loans, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA+ and A-1, respectively.

Shanghai Pudong Development Bank<600000> has been hired as lead underwriter and bookrunner. Industrial Bank Co Ltd<601166> will be joint lead underwriter for the offering.

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