Shaanxi Non-ferrous Metals to issue RMB 3 bln short-term bonds

Shaanxi Non-ferrous Metals Holding Group Co Ltd Monday announced it would issue RMB 3 billion financing bonds with a maturity of 365 days on the interbank market on Dec. 8.

This batch of bonds will be issued at the face value and the yield will be determined during the process of book building, according to the company's statement posted on the official Chinabond.com website.

The value date and payment due day will both start from Dec. 17. The bonds will become tradable on Dec. 18.

Proceeds from the issuance will be used to supplement working capital and repay bank loans, according to the company.

China Cheng Xin International Credit Rating Co has rated the issuer and the bonds AA+ and A-1 respectively.

Industrial Bank Co., Ltd<601166> has been assigned as major underwriter for the sale.

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