China Knowledge reported that Fujian Energy Group Co Ltd will issue CNY 400 million in short-term bills with a maturity of 365 days on the interbank market on December 16.

The company said in a statement that the bills will be issued at the face value and the coupon rate will be determined in the process of bookbuilding.

Both value date and payment due date will be December 20 and the to-be-issued bills are tradable on December 21. Proceeds from the issue will be mainly used to replenish the firm's working capital.

China Chengxin International Credit Rating Co Ltd has rated the issuer and the bills AA+ and A-1 respectively.

China CITIC Bank Corp and CITIC Securities Co have been assigned as joint lead underwriters for the sale.

(Sourced from China Knowledge)