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Jiangsu Phoenix Publishing & Media to issue RMB 1.5 bln bills

Sep. 27, 2012 (China Knowledge) - Jiangsu Phoenix Publishing & Media Group<601928>, the largest publishing enterprise in China in terms of revenue, has announced it will issue RMB 1.5 billion in short-term bills with a maturity of 365 days in the interbank market on Oct 11.

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 12, and the to-be-issued bills tradable Oct 15.

RMB 900 million of the proceeds from the issue will be used to replenish the working capital, while the remaining RMB 600 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.

Bank of Nanjing Co Ltd<601009> has been hired as lead underwriter and bookrunner. China Minsheng Banking Corp Ltd<600016><1988> will be the joint lead underwriter for the offering.







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