Nov. 19, 2012 (China Knowledge) - State-owned Xiamen Iport Group Co Ltd, formerly known as Xiamen International Airport Group Company, has announced it plans to issue RMB 500 million in short-term bills with a maturity of 365 days in the interbank market on Nov 22.
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 26, and the to-be-issued bills tradable Nov 27.
RMB 200 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 300 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 International Capital Corp(CICC) has been assigned as the lead underwriter and book-runner. China Construction Bank Corp<601939
> will be joint lead underwriter for the offering.