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Nantong Sijian Construction Group to issue RMB 250 mln in bills

Nov. 28, 2012 (China Knowledge) - Nantong Sijian Construction Group Co Ltd has said it will issue RMB 250 million in unsecured bills with a maturity of 365 days on the interbank market on Nov. 30.

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 Dec. 4, and the to-be-issued bills tradable Dec. 5.

RMB 170 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 80 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.

Agricultural Bank of China Ltd<601288><1288> has been assigned as lead underwriter and bookrunner for the offering.

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

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