Shanghai Shenhua Holdings to Issue RMB 300 Mln in Bills

Shanghai Shenhua Holdings Co Ltd<600653> has said that it plans to issue RMB 300 million worth of 365-day unsecured bills on the interbank market on Apr. 11.

Coupon rate will be determined in the process of book-building and the bills will be issued at face value. Both value date and payment due date is on Apr. 12, and the to-be-issued bills tradable on Apr. 13.
 
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills A+ and A-1, respectively.

Industrial Bank Co Ltd<601166> has been hired as bookrunner and lead underwriter for the offering.

Proceeds from the offering will be used to repay bank loans and replenish the group's working capital.