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Ministry of Railways to auction RMB 27 bln in bonds

Jul. 30, 2012 (China Knowledge) - China's Ministry of Railways today announced plans to auction RMB 27 billion worth of fixed-rate bonds on the interbank market Aug. 1, sources reported.

The ministry said that it will issue RMB 22 billion in ten-year bonds, whose coupon rate will be Shibor plus basic spread that will be set between -0.70% and 0.3%.

Meanwhile, the MOR will float RMB 5 billion in five-year bonds, whose coupon rate will be Shibor plus basic spread that will be set between -0.39% and 0.61%.

The bonds have been rated AAA.

CITIC Securities Co<600030><6030> will be lead underwriter for the offering, and China Life asset Management Co will be financial advisor.







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