China Knowledge reported that SDIC Xinji Energy Co Ltd principally engaged in the exploration, washing, processing and distribution of coal, has said that it will issue CNY 800 million in short term bills with a maturity of 366 days on January 10.

The company said in a statement that the bills will be issued at face value and the coupon rate will be determined during the process of bookbuilding. Both value date and payment due date is January 11 and the to-be-issued bills tradable on January 12.

Proceeds from the deal will be used to repay bank loans and replenish its working capital. Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1 respectively.

Bank of China Ltd and CITIC Securities Co have been hired as joint lead underwriters for the offering.

(Sourced from China Knowledge)