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Shandong Weiqiaochuangye Group to issue RMB 1 bln bills

Nov. 26, 2012 (China Knowledge) - Shandong Weiqiaochuangye Group Co Ltd, which is focused on providing goods and integrated service of cotton industry, spinning and weaving, dyeing and finishing, garment, home textile, heat electricity and aluminum industry, has said it will issue RMB 1 billion in unsecured bills with a maturity of 365 days on the interbank market on Nov. 28.

The company said 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.

All the proceeds from the issue will be used to replenish working capital, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA and A-1, respectively.

China Merchants Bank<600036><3968> has been assigned as lead underwriter and bookrunner for the offering.

This will be the third short-term bills issued by the company this year.

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