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Dalian Equipment Manufacturing Inv’t to issue RMB 1 bln bills

Nov. 15, 2012 (China Knowledge) - State owned Dalian Equipment Manufacturing Investment Co Ltd(DEMI), the parent of Dalian Thermal Power Co Ltd<600719>, 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 20.

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 21, and the to-be-issued bills tradable Nov 22.

RMB 600 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 Chengxin International Credit Rating 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.
This will be the issuer's second short-term bills this year.

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