Jiangxi Wannianqing to issue CNY400m bills

Jiangxi Wannianqing to issue CNY400m bills
Published: 17 October 2011

Jiangxi Wannianqing Cement Co Ltd, has said that it will issue CNY400m (US$62.8m) worth of short-term bills with a maturity of 365 days on 21 October.

The company said in a statement that the bills will be issued at face value, and the coupon rate is to be determined during the process of book building. Both value date and payment due date is 24
October, and the to-be-issued bills tradable on 25 October. Dagong Global Credit Rating Co Ltd has rated the issuer and bills A+ and A-1, respectively.

Proceeds from the deal will be used to replenish the firm’s working capital and improve its debt structure.