China Knowledge reported that Anhui Province Energy Group Co the parent of Anhui Wenergy Co Ltd plans to issue CNY 1 billion in short term bills with a maturity of 366 days on the inter-bank market on October 10.

The group said in a statement that the bills will be issued at face value and the coupon rate will be determined in the process of book building. Both value date and payment due date will be October 11 and the to be issued bills tradable on October 12. Proceeds from the deal will be used to repay bank loans.

Dagong Global Credit Rating Co Ltd has rated the issuer and the bills AA+ and A-1 respectively. China Development Bank and Bank of China Ltd will be book runners and lead underwriters for the deal.

(Sourced from China Knowledge)