Jul. 17, 2012 (China Knowledge) - Metallurgical Corp of China Ltd<601618
> or MCC, the country's leading mining and smelting operator, announced that it plans to issue RMB 4 billion in super short-term bills with a maturity of 270 days on the interbank market tomorrow.
According to a statement, the power
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 is set on Jul. 19 and the to-be-issued bills tradable Jul. 20.
Bank of Communications<601328
> has been assigned as lead underwriter and book-runner, and CITIC Securities Co<600030
><6030> will be the joint lead underwriter for the offering.
Proceeds from the deal will be used to repay bank loans.
This will be the first super short-term bills issued by the company this year.
In the first three months of this year, the company's net profit fell 27.81% YoY to RMB 863.39 million, while its core business revenue climbed 4.28% to RMB 44.85 billion.