Apr. 6, 2012 (China Knowledge) - China National Gold Group Corp, one of the country's largest gold producers, has said that it plans to issue RMB 1.5 billion worth of 365-day unsecured bills on the interbank market on Apr. 10.
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. 11, and the to-be-issued bills tradable on Apr. 12.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
Industrial Bank Co Ltd<601166
> has been hired as book-runner and lead underwriter for the offering.
Proceeds from the offering will be used to repay bank loans and replenish the group's working capital.