Nov. 10, 2008 (China Knowledge) - Harbin Pharmaceutical Group Co Ltd<600664>, China's second-biggest drug maker by market value, Monday announced it would issue RMB 800 million financing bonds with a maturity of 365 days on the interbank market on Nov. 17.
According to the company's statement posted on the official Chinabond.com website, this batch of bonds will be issued at the face value and the yield will be determined during the process of book building.
The bonds will become tradable on Nov. 19. Proceeds from the issuance will be used to supplement working capital, according to the company.
China Cheng Xin International Credit Rating Co has rated the issuer and the bonds AA+ and A-1 respectively.
China Merchants Bank Co Ltd (CMB)<600036><3968> has been assigned as major underwriter for the sale.
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