Dec. 13, 2012 (China Knowledge) - China City Construction Holding Group Company has said it will issue RMB 1.5 billion in unsecured bills with a maturity of 365 days on the interbank market on Dec. 20.
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. 21, and the to-be-issued bills tradable Dec. 24.
RMB 400 million of the proceeds from the issue will be used to repay bank loans, while the remaining RMB 1.1 billion to replenish working capital, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.
China Guangfa Bank has been assigned as lead underwriter and bookrunner. China Zheshang Bank will be the joint lead underwriter for the offering.