South Cement Co to issue 270-day bills

South Cement Co, Ltd, a subsidiary of Hong Kong-listed China Building Materials Co, has announced it will issue CNY1.5bn (US$240m) unsecured super short-term bills with a maturity of 270 days on the interbank market today. The company said in a statement that the bills will be issued at the face value and the coupon rate determined in the process of bookbuilding.

Both of value date and payment due date is set on 4 February and the to-be-issued tradable on 5 February/ Shanghai Brilliance Credit Rating and Investor Service Co, Ltd has rated the issuer at AA+. This rating denotes that the issuer has very good short-term and long-term debt repayment ability, and it is operating in a positive state, uncertain factors have very little impact on operations and development.