Nov. 12, 2012 (China Knowledge) - China Juli Group Co Ltd, the parent company of Juli Sling Co Ltd<002342>, 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 15.
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 19, and the to-be-issued bills tradable Nov 20.
RMB 215 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 185 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
> has been hired as lead underwriter and bookrunner. Bank of Communications<601328
> will be the joint lead underwriter for the offering.
This will be the company's second short-term bills this year.