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WISCO to issue RMB 6 bln in bills

Jan. 30, 2012 (China Knowledge) - Wuhan Iron and Steel (Group) Corp or WISCO, one of the leading iron and steel makers in China, said that it will issue RMB 6 billion in unsecured short-term bills with a maturity of 366 days on the interbank market on February 2, sources reported.

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

Both value date and payment due date will be February 3 and the bonds are tradable on February 6.

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

Bank of China Ltd<601988><3988> has been assigned as lead underwriter for the sale.

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