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China Xinxing to issue RMB 1 bln bills

Oct. 17, 2012 (China Knowledge) - China Xinxing Corporation(Group) has announced it plans to issue RMB 1 billion in short-term bills with a maturity of 365 days in the interbank market on Oct 23.

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 24, and the to-be-issued bills tradable Oct 25.

All the proceeds from the issue will be used 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 Beijing Co Ltd<601169> has been hired as lead underwriter and bookrunner. Huaxia Bank Co Ltd<600015> will be the joint lead underwriter for the offering.







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