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Zhejiang Communications Inv't to issue RMB 2 bln in bills

Apr. 23, 2012 (China Knowledge) - Zhejiang Communications Investment Group announced today that it plans to issue RMB 2 billion worth of 365-day unsecured bills on the interbank market on Apr. 26, sources reported.

Coupon rate will be determined in the process of book-building and the bills be issued at face value. Both value date and payment due date is Apr. 27 and the to-be-issued bills tradable on Apr. 28.
China Lianhe Credit Rating Co Ltd has rated the issuer AAA and A-1, respectively.

China Everbright Bank Co Ltd<601818> has been hired as lead underwriter for the offering.

Zhejiang Communications Investment Group is the parent company of Zhejiang Expressway Co Ltd<0576>.

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