Xinjiang Tianshan Cement to issue CNY400m bills

Xinjiang Tianshan Cement to issue CNY400m bills
Published: 08 November 2011

Xinjiang Tianshan Cement Co Ltd, based in the Xinjiang Uygur Autonomous Region, has said it plans to issue CNY400m worth of 366-day unsecured bills on the interbank market on Nov. 14, sources reported.

Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer. Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA and A-1, respectively. Shanghai Pudong Development Bank Co Ltd has been assigned as the lead underwriter.