Fuyao Glass Industry Group plans to issue 500 million yuan of 365-day unsecured short term financing bills on January 11, reports Yicai.com, citing a company filing.
The value date of the bills is January 12 while trading of the bills will start on January 13. Half the amount raised will be used to repay bank loans while the remaining 250 million yuan will be used to increase reserves of production materials. China Construction Bank (601939, 0939.HK) is the lead underwriter of the issuance while Evergrowing Bank is the co-lead underwriter.