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China Merchants Securities to issue RMB 4.6 bln in 91 day bills

Aug. 1, 2012 (China Knowledge) - China Merchants Securities Co Ltd<600999>, a major Chinese securities firm, said today that it will issue RMB 4.6 billion in unsecured super short-term bills with a maturity of 91 days on the interbank market on Aug. 6, sources reported.

The company said that the bills will be issued at the face value, and the coupon rate will be determined through tender process.

Both value date and payment due date will be on Aug. 7, and the to-be-issued bills are tradable on Aug. 8.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AAA and A-1, respectively.
Underwriters for the offering include Industrial and Commercial Bank of China<601398><1398>, China Construction Bank Co<601939><0939> and Agricultural Bank of China Ltd or ABC<601288><1288>.

In the first quarter of this year, the company's net profit was RMB 527 million and its operating revenue was RMB 1.25 billion.
This will be the second super short-term bills issued by the company this year.

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