China-Kinwa High Technology Co Ltd<600110>, which is engaged in the development of thermal shrinkable products, copper foil products and petroleum products, has said it will issue RMB 140 million in short-term bills with a maturity of 365 days in the interbank market on Aug 15.

The company says the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on Aug 16, and the to-be-issued bills tradable Aug 17.

All the proceeds from the issue will be used to replenish working capital, said the issuer.

Dagong Global Credit Rating Co has rated the issuer and bonds AA- and A-1, respectively.

China Minsheng Banking Corp Ltd<600016><1988> has been assigned as the lead underwriter and bookrunner for the offering.