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Jiangsu High Hope Int’l to issue RMB 800 mln bills

Nov. 9, 2012 (China Knowledge) - Jiangsu High Hope International Group Corp Ltd, a leading trade company in Jiangsu Province, has announced it plans to issue RMB 400 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 16, and the to-be-issued bills tradable Nov 19.

RMB 400 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 400 million to repay bank loans, said the issuer.

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

China CITIC Bank<601998><0998> has been hired as lead underwriter and bookrunner. China Guangfa Bank will be the joint lead underwriter for the offering.

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