Apr. 5, 2012 (China Knowledge) - Metallurgical Corp of China Ltd<601618
> or MCC, the country's leading mining and smelting operator, announced today that it plans to issue RMB 4.4 billion worth of 365-day unsecured bills on the interbank market on Apr. 10, 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 Apr. 12, and the to-be-issued bills tradable on Apr. 13.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
CITIC Securities Co<600030
><6030> has been hired as lead underwriter for the offering and China CITIC Bank Corp<601998
> will be joint lead underwriter.
Proceeds from the offering will be used to repay bank loans.