China Knowledge reported that Jiangxi Wannianqing Cement Co Ltd which is engaged in the production and sale of Portland cement and Portland cement clinker will issue CNY 400 million worth of short term bills with a maturity of 365 days on October 21.

The company said in a statement that the bills will be issued at face value and the coupon rate is to be determined during the process of book building. Both value date and payment due date is October 24 and the to-be-issued bills tradable on October 25.

Dagong Global Credit Rating Co Ltd has rated the issuer and bills A+ and A-1 respectively. Proceeds from the deal will be used to replenish the firm's working capital and improve its debt structure.

China Minsheng Banking Corp Ltd and China Merchants Bank will be lead underwriters for the offering.

(Sourced from China Knowledge)