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Sinochem to issue RMB 3 bln in 270-day bills

Jul. 19, 2012 (China Knowledge) - Sinochem Corp, a subsidiary of state-owned Sinochem Group, China's largest agricultural chemical conglomerate, announced today that it plans to issue RMB 3 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. 23 and the to-be-issued bills tradable on Jul. 24.
China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.

CITIC Securities Co<600030><6030> and Industrial and Commercial Bank of China<601398><1398> will be the joint lead underwriters for the offering.
This will be the first super short-term bills issued by the company this year.

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