Sep. 21, 2012 (China Knowledge) - Inner Mongolia Taixi Coal Group Co Ltd has announced it will issue RMB 800 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.
All 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 bills AA- and A-1, respectively.
Bank of China<601988
> has been hired as lead underwriter and bookrunner for the offering.
This will be the issuer's second short-term bills this year.