Shandong Shanshui Cement issues 210 day bills

Shandong Shanshui Cement Group Ltd, a subsidiary of China Shanshui Cement Group Ltd, announced that it issued CNY2bn (US$321.8m) unsecured super short-term bills with a maturity of 210 days on the interbank market on 14 April.

The corporation 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 value date and payment due date is set on 16 April, and the to-be-issued bills tradable on the 17 April.

The proceeds from the issue will be used to repay bank loans and replenish its working capital.

China Chengxin International Credit Rating Co., Ltd has rated the issuer at AA+. The rating agency's view of issuer repayment's ability is strong, and potential unfavorable external economic factors will have little negative impact. China Merchants Bank has been mandated as lead underwriter and bookrunner.