Jul. 9, 2012 (China Knowledge) - China Communications Construction Co Ltd<601800><1800
>, which operates transportation infrastructure and heavy machinery manufacturing businesses, will issue RMB 2.5 billion in unsecured bills with a maturity of 365 days on the interbank market on Jul. 11, sources reported.
The company said that the bills will be issued at the face value, and the coupon rate will be determined in the process of book-building.
Both value date and payment due date will be Jul. 13, and the to-be-issued bills are tradable on Jul. 16.
Dagong Global Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
China Merchants Bank<600036
> has been assigned as lead underwriter and book-runner for the bill offering.
This will be the second short-term bills issued by the company this year.
In the first quarter of this year, the company's net profit was RMB 1.45 billion and its operating revenue was RMB 50.31 billion.