Nov. 7, 2012 (China Knowledge) - State owned Qianjiang Water Resource Development Co Ltd<600283
> has announced it plans to issue RMB 200 million in short-term bills with a maturity of 365 days in the interbank market on Nov 14.
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 15, and the to-be-issued bills tradable Nov 16.
RMB 100 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 100 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.
Industrial Bank Co Ltd<601166
> has been hired as lead underwriter and bookrunner for the offering.