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China National Gold Group to issue RMB 1 bln in 270-day bills

Jul. 24, 2012 (China Knowledge) - China National Gold Group Corp, one of the country's largest gold producers, will issue RMB 1 billion in super short-term bills with a maturity of 270 days on the interbank market tomorrow.

The 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 will be on Jul. 26, and the to-be-issued bills are tradable on Jul. 27.
Industrial and Commercial Bank of China<601398><1398> and Bank of China Ltd<601988><3988> have been hired as joint lead underwriters for the bill offering.

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

In 2011, the group's profit surged 57% YoY to RMB 5 billion and its operating revenue rose 35% to RMB 70 billion.

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