Taigang Stainless to issue CNY 1.5 billion 3 year bill
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Wednesday, 13 May 2009
It is reported that Shanxi Taigang Stainless Steel Co Ltd is to float CNY 1.5 billion of three year finance bills on May 19th 2009
| Issuer | Shanxi Taigang Stainless Steel Co Ltd |
| Guarantee | Unsecured |
| Registered amount | CNY 7.5bln |
| Issued amount | CNY 1.5 billion |
| Term | 3 year |
| Par Value | CNY 100 |
| Issue Price | CNY 100 |
| Issuing Rate | To be decided by bookkeeping |
| Underwriter | Industrial & Commercial Bank of China |
| Underwriting Mode | Underwriting Syndicate Distribution |
| Issuing Mode | Bookkeeping |
| Issuing Date | May 19, 2009 |
| Settlement Date | May 20, 2009 |
| Interest count day | May 20, 2009 |
| Circulation Date | May 21, 2009 |
| Maturity Date | May 20, 2012 |
| Issuer Rating | AA+ |
| Interest accrue mode | Single interest |
| Rating | AA+ |
| Rating Agency | Dagong Global Credit Rating Co Ltd |
According to the issuer, 30% of the to-be-collected money will be used as liquidity in operation and raw material-purchasing, and the rest is to repay loans.
As learned, the issuer totally registered medium-term bill of CNY 3.5 billion in National Association of Financial Market Institutional Investors, and this is the first issue of part of the registered amount. In spit of the medium term bill, the issuer had already floated short term bonds of CNY 4 billion.
(Sourced from China Securities News)
