Apr. 9, 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 bookbuilding 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.