Jan. 4, 2012 (China Knowledge) - China National Petroleum Corp or CNPC, the parent company of PetroChina Co Ltd<601857
>, announced today that it will issue RMB 20 billion worth of 270-day unsecured bills on the interbank market on January 6, sources reported.
Coupon rate will be determined in the process of book-building. Both value date and payment due date will be January 6, and the to-be-issued bills are tradable on January 9.
Proceeds from the issue will be used to replenish working capital, said the issuer.
Industrial and Commercial Bank of China<601398
> and Bank of China<601988
> have been assigned as the joint lead underwriters.
This will be the issuer's first short-term bill this year.
In addition, CNPC will issue not more than RMB 20 billion of fixed-rate corporate bonds, comprising 7-year bonds and 10-year bonds, on January 10. China Lianhe Credit Rating Co Ltd has rated the issuer and bonds AAA and AAA, respectively.
CITIC Securities Co<600030
>, China Development Bank Securities, Hongyuan Securities<000562
> and Guotai Junan Securities Co Ltd will be the joint lead underwriters.