Gansu Qilianshan to issue CNY400m in bills, China

Gansu Qilianshan to issue CNY400m in bills, China
Published: 23 March 2011

Gansu Qilianshan Cement Group Co Ltd announced today that it plans to issue CNY400m in short-term bills with maturity of 365 days on the inter-bank market on Mar. 25, sources reported. The company said in a statement that the batch of bills will be issued at face value, and the coupon rate will be determined during the process of book building. The value date will be Mar. 28. Proceeds from the issue will be mainly used to replace bank loans for its subsidiary and replenish working capital, according to the company.