Nov. 15, 2012 (China Knowledge) - Jonjee Hi-Tech Industrial & Commercial Holding Co Ltd (Jonjee)<600872
>, has announced it plans to issue RMB 450 million 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 330 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 120 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.
China Everbright Bank Co Ltd<601818> has been hired as lead underwriter and bookrunner for the offering.