Nov. 20, 2012 (China Knowledge) - Anhui Tianda Group Co Ltd, the parent of Anhui Tianda Petroleum Pipe Co Ltd<00839> has announced it plans to issue RMB 350 million in short-term bills with a maturity of 365 days in the interbank market on Nov 27.
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 29, and the to-be-issued bills tradable Nov 30.
RMB 50 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 A+ and A-1, respectively.
Shanghai Pudong Development Bank Co Ltd<600000
> has been assigned as the lead underwriter and book-runner for the offering.