Jul. 21, 2009 (China Knowledge) - Tianjin Capital Environmental Protection Group Co Ltd announced that it will issue a batch of 365-day financing bills on the interbank market on Jul. 28, sources reported.
The company hopes to raise up to RMB 500 million through the issuance, according to its statement filed with the Shanghai Stock Exchange.
The bills will become tradable on Jul. 31, and both the value date and the payment due date will be Jul. 30, 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 the firm's working capital and repay bank loans.
Cheng Xin International Credit Rating Co Ltd has rated the issuer and the bills AA and A-1, respectively.
Industrial Bank Co Ltd has been hired as the major underwriter for the sale.
