Jul. 19, 2012 (China Knowledge) - China Academy of Telecommunications Technology, controlling shareholder of Datang Telecom Technology Co Ltd<600198
>, announced that it will issue RMB 900 million worth of bills with a maturity of 365 days on the interbank market on Jul 24.
Coupon rate will be determined in the process of book-building and the bills will be issued at face value. Both value date and payment due date is set on Jul 27 and the to-be-issued bills tradable Jul 30.
China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA+ and A-1, respectively.
Shanghai Pudong Development Bank<600000
> has been assigned as the lead underwriter and book-runner for the offering.
All the proceeds will be used to replenish working capital, said the issuer.
This will be the issuer's second short-term bills this year.