China National Heavy Duty Truck to issue short-term bills
(chinatrucks.com, Jan.12, 2010)China National Heavy Duty Truck Group Co Ltd announced that it will issue RMB 700 million in 365-day short-term bills on the interbank market on Jan. 13.
The company 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 proceeds from the issuance will be used to optimize debt structure and replenish working capital, according to the company.
China Lianhe Credit Rating Co Ltd and China Chengxin International Credit Rating Co have jointly rated the bills and the issuer A-1 and AA+, respectively. China CITIC Bank has been assigned as the main underwriter for the sale.
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