South Cement to issue CNY1.5bn in bills, China

South Cement Co controlled by state-owned China National Building Materials Co, has announced plans to sisue CNY1.5bn worth of 365-day unsecured bills on the internet bank market on 15 March, according to reports by China Knowledge Press.

The coupon rate will be determined in the process of book building. Both value date and payment due date is set on 19 March and the to-be-issued bills tradable on 20 March.

Proceeds from the issuance will be used to repay bank loans and replenish working capital.