Mar. 26, 2012 (China Knowledge) - Sinopec<600028
>, Asia's largest oil refiner, has announced that it plans to issue RMB 10 billion worth of 180-day unsecured bills on the interbank market today, the sources reported.
Coupon rate will be determined in the process of book-building and the bills will be issued at face value. Both value date and payment due date is on Mar. 27, and the to-be-issued bills is tradable on Mar. 28.
China Lianhe Credit Rating Co Ltd has rated the issuer AAA.
Industrial and Commercial Bank of China<601398
> and Bank of China Ltd<601988
> have been hired as joint lead underwriters for the offering.
Proceeds from the deal will be used to replenish the firm's working capital.