Aug. 6, 2012 (China Knowledge) - Beijing Infrastructure Investment Co Ltd, announced that it plans to issue RMB 2 billion worth of short-term bills with a maturity of 365 days on the interbank market on Aug 9.

The company said in a statement that the bills will be issued at the face value, and the coupon rate will be determined in the process of book-building.

Both value date and payment due date is set on Aug 10, and the to-be-issued bills tradable Aug 13.

RMB 1 billion of the proceeds will be used to replenish working capital, while the remaining RMB 1 billion will be used to repay bank loans, said the issuer.

China Chengxin International Credit Rating Co Ltd has rated the issuer and the bills AAA and A-1, respectively.

China Construction Bank Corp or CCB<601939><0939> has been assigned as the lead underwriter and bookrunner for the offering.

This will be the issuer's first short-term bills this year.