Mar. 26, 2012 (China Knowledge) - Guangzhou
Automobile Industry Group Co, the parent company of Guangzhou
Automobile Group Co Ltd<2238>, announced that it plans to issue RMB 500 million worth of 365-day unsecured bills on the interbank market on Mar. 28, 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. 29, and the to-be-issued bills tradable on Mar. 30.
China Lianhe Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
China Construction Bank Co<601939
> has been hired as lead underwriter for the offering.
This will be the second short-term bills issued by the company this year.