China Tianrui to issue unsecured bills, China

China Tianrui Group Cement Co is to issue CNY2bn (US$321m) in unsecured bills with a maturity of 365 days on the interbank market on 31 January.

The company, which is a leading clinker and cement producer in Henan and Liaoning provinces, 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 1 February, and the to-be-issued bills tradable 4 February.

All the proceeds from the issue will be used to replenish working capital, said the issuer.

China Construction Bank Corp has been hired as lead underwriter and bookrunner for the offering.