China Knowledge reported that Shanghai Shentong Metro Co Ltd plans to issue CNY 400 million worth of 366 day unsecured bills on the interbank market on November 16.

Coupon rate will be determined in the process of book-building. Both value date and payment due date is November 17 and the to be issued bills tradable on November 18.

The issuer said proceeds from the issue will be used to repay bank loans and replenish working capital. Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA and A-1 respectively.

Development Bank Co Ltd has been assigned as the lead underwriter and bookrunner.

(Sourced from China Knowledge)