Ningbo Port Co yesterday announced that it will issue RMB 1.5 billion worth of short-term bills with a maturity of 365 days on the interbank market on Jul. 29, market sources reported.
The firm said in a statement that the bills will be issued at face value and that the yield will be determined in the process of book building.
The bills will become tradable on Aug. 2, according to the company.
China Construction Bank has been assigned as major underwriter for the issuance.
China Chengxin International Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
The proceeds from the bill issue will be used to replenish working capital and pay back bank loans.
The firm said in a statement that the bills will be issued at face value and that the yield will be determined in the process of book building.
The bills will become tradable on Aug. 2, according to the company.
China Construction Bank has been assigned as major underwriter for the issuance.
China Chengxin International Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
The proceeds from the bill issue will be used to replenish working capital and pay back bank loans.