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China Shipping (Group) to issue RMB 4 bln in 180 day bills

Aug. 1, 2012 (China Knowledge) - China Shipping (Group) Co, the parent company of China Shipping Container Lines Co Ltd<601866><2866> and China Shipping Development Co Ltd<600026><1138>, said today that it will issue RMB 4 billion in unsecured super short-term bills with a maturity of 180 days on the interbank market tomorrow, sources reported.

The company said that the bills will be issued at 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 Aug. 3, and the to-be-issued bills are tradable on Aug. 6.

China Lianhe Credit Rating Co Ltd has rated the issuer AAA.
 
China Development Bank and China Everbright Bank Co Ltd<601818> have been assigned as joint lead underwriters for the bill offering.







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