Nov. 19, 2012 (China Knowledge) - State-owned Wuhan
New Harbor Construction & Investment Development Group Co Ltd 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 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.
All the proceeds from the issue will be used 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.
Shanghai Pudong Development Bank Co Ltd<600000
> has been assigned as the lead underwriter and book-runner. China Guangfa Bank will be joint lead underwriter for the offering.
This will be the company's second short-term bills this year.