Oct. 31, 2012 (China Knowledge) - Sichuan
Coal Industry Group Ltd Liability Co, a large-scale coal enterprise in China, has announced it plans to issue RMB 1 billion in short-term bills with a maturity of 365 days in the interbank market on Nov 6.
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 Nov 7, and the to-be-issued bills tradable Nov 8.
RMB 500 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 500 million to replenish working capital, said the issuer.
Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA+ and A-1, respectively.
China Everbright Bank Co<601818>has been hired as lead underwriter and bookrunner for the offering.