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.
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This will be the first super short-term bills issued by the company this year.