Dongming Petrochemical Group to Issue RMB 6 Mln in Bills

Shandong Dongming Petrochemical Group Co has said that it plans to issue RMB 600 million worth of unsecured short-term bills with a maturity of 365 days on the interbank market on Jun. 28.

Coupon rate will be determined in the process of book-building and the bills be issued at face value.

Both value date and payment due date is Jun. 29 and the to-be-issued bills tradable on Jul. 2.

China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.

China Construction Bank Co<601939><0939> has been hired as book-runner and lead underwriter for the offering, and Shanghai Pudong Development Bank<600000> will be joint lead underwriter.

In the first quarter of this year, the company's net profit was RMB 70.02 million and its operating revenue was RMB 3.79 billion. (China Knowledge, Edited by Topco)