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Nanjing Changjiang Waterway Engineering Bureau to issue RMB 300 mln bills

Oct. 29, 2012 (China Knowledge) - State owned-Nanjing Changjiang Waterway Engineering Bureau, has announced it will issue RMB 300 million in short-term bills with a maturity of 365 days in the interbank market on Nov 1.

The company said in a statement that the notes 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 Nov 2, and the to-be-issued bills tradable Nov 5.

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.

Industrial Bank Co Ltd<601166> has been hired as lead underwriter and bookrunner for the offering.

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