Jul. 12, 2012 (China Knowledge) - China National Petroleum Corp or CNPC, the parent company of PetroChina Co Ltd<601857><0857>, has announced that it will issue RMB 20 billion worth of unsecured medium-term notes with a maturity of four years in the interbank market on Jul. 18.
The company said in a statement that the notes will be issued at face value and coupon rate will be determined by a public tender through the bond issue system of the People's Bank of China.
Both value date and payment due date is Jul. 19 and the to-be-issued notes tradable on Jul. 20.
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
China Construction Bank Co<601939><0939> and China Development Bank have been hired as joint lead underwriters for the offering.
Proceeds from the deal will be used to replenish the company's working capital.
This will be the second medium-term notes issued by the company this year.