Jul. 11, 2012 (China Knowledge) - Zhejiang
Materials Industry Group Corp, a state-owned enterprise mainly engaged in domestic and international trade of productive materials, has said that it will issue RMB 1 billion in unsecured bills with a maturity of 365 days on the interbank market on Jul. 17, sources reported.
The company said that the bills will be issued at 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. 18, and the to-be-issued bills are tradable on Jul. 19.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.
Industrial and Commercial Bank of China<601398
> has been assigned as lead underwriter and book-runner for the bill offering, and China CITIC Bank Corp<601998
> will be joint lead underwriter.
This will be the first short-term bills issued by the company this year.
In the first quarter of 2012, the group’s net profit was RMB 380 million and its operating revenue was RMB 1.62 billion.