Shaanxi Nonferrous Metals Holding Group Company Limited has announced that it will issue RMB 1 billion in bills with a maturity of 365 days on the inter bank market on Mar 2nd 2011.

The firm said in a statement that this batch of bills will be issued at face value and the coupon rate will be determined during the process of book building. The company will use CNY 500 million of the proceeds to purchase raw materials and CNY 500 million will be used to repay bank loans.

(Sourced from China Knowledge)