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Huainan Mining Industry to issue RMB 2 bln bills

Nov. 9, 2012 (China Knowledge) - Huainan Mining Industry (Group) Co Ltd has announced it plans to issue RMB 2 billion 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.

All the proceeds from the issue will be used to repay bank loans, said the issuer.

China Lianhe Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.

China Minsheng Banking Corp Ltd<600016><1988> has been hired as lead underwriter for the offering.
This will be the company's third short-term bills this year.

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