Apr. 18, 2012 (China Knowledge) - China Railway 13th Bureau Group Co Ltd has said it will issue RMB 250 million worth of 365-day unsecured bills on the interbank market on Apr. 24.
Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is set on Apr. 25, and the to-be-issued bills tradable on Apr. 26.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA and A-1, respectively.
China Construction Bank<601939
> has been assigned as the lead underwriter and bookrunner.
This will be the issuer's first short-term bill this year.
As of to date, the issuer, along its subsidiaries, has no bonds.