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Sichuan Shengda Forestry to issue RMB 100 million bills

Sep. 26, 2012 (China Knowledge) - Sichuan Shengda Forestry Industry Co Ltd<002259>, which is principally engaged in the manufacture and distribution of medium titer boards and wood floorboards, has announced it will issue RMB 100 million in short-term bills with a maturity of 365 days in the interbank market on Oct 8.

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 Oct 10, and the to-be-issued bills tradable Oct 11.

All the proceeds from the issue will be used to replenish the working capital, said the issuer.

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

China CITIC Bank Corp<601998><0998> has been hired as lead underwriter and bookrunner for the offering.

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