Nov. 29, 2012 (China Knowledge) - Shandong Luxin Investment Holding Group Co Ltd has said it will issue RMB 500 million in unsecured bills with a maturity of 365 days on the interbank market on Dec. 5.
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. 6, and the to-be-issued bills tradable Dec. 7.
RMB 400 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 100 million to replenish working capiital, said the issuer.
Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA+ and A-1, respectively.
Industrial Bank Co Ltd<601166
> has been assigned as lead underwriter and bookrunner for the offering.