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China Merchants Group to issue RMB 2 bln bills

Jun. 11, 2012 (China Knowledge) – China Merchants Group, the parent company of China Merchants Holdings (International) Co Ltd<0144>, announced its plan to issue RMB 2 billion in super short-term bills with a maturity of 90 days in the interbank market on Jun 12.

The company said in a statement that the bills will be issued at the face value, and the coupon rate will be determined in the process of bookbuilding.

Both value date and payment due date is Jun 13, and the to-be-issued bills are tradable on Jun 14.

China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.

CITIC Securities Co<600030><6030> and Industrial and Commercial Bank of China or ICBC<601398><1398> will be the joint lead underwriter and bookrunner for the offering.

All the proceeds will be used to repay bank loans, said the issuer.

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