Yanchang Petroleum to issue RMB 2 bln in financing bills
Published: 31 Aug 2009 16:25:43 PSTSep. 1, 2009 (China Knowledge) - Shaanxi Yanchang Petroleum Group, China's top regional oil producer, on Monday announced that it will issue 270-day financing bills on the interbank market on Sept. 7, sources reported. The company hopes to raise up to RMB 2 billion through the issuance. The bills will become tradable on Sept. 8, and both the value date and the payment due date will be Sept. 7, according to the company's statement. The financing bills will be issued at face value and the yield will be determined in the process of book building. The proceeds from the issuance will be mainly used to replenish working capital, optimize financing structure and reduce financing cost. China Lianhe Credit Rating Co Ltd has rated the issuer and the bills AAA and A-1, respectively. Industrial Bank Co Ltd<601166> has been assigned as the major underwriter for the sale. Copyright © 2009 www.chinaknowledge.com |
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