Jul. 11, 2012 (China Knowledge) - China Resources Co Ltd has said it will issue RMB 1 billion in unsecured bills with a maturity of 365 days on the interbank market on Jul. 17.
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 is set on Jul. 18, and the to-be-issued bills are tradable Jul. 19.
China Lianhe Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
Agricultural Bank of China Ltd or ABC<601288><1288> has been assigned as book-runner and lead underwriter for the offering, and Bank of China Ltd<601988><3988> the joint lead underwriter.
This will be the first short-term bills issued by the company this year.