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CNPC to issue RMB 20 bln notes

Aug. 6, 2012 (China Knowledge) - China National Petroleum Corp or CNPC, the parent company of PetroChina Co Ltd<601857><0857>, has announced that it will issue RMB 20 billion worth of unsecured medium-term notes with a maturity of four years in the interbank market on Aug. 10.

The company said in a statement that the notes will be issued at face value and coupon rate will be determined by an open tender through the bond issue system of the People's Bank of China.
Both value date and payment due date is on Aug. 13, and the to-be-issued notes tradable on Aug. 14.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AAA.
Agricultural Bank of China Ltd or ABC<601288><1288> and China Merchants Bank<600036><3968> have been hired as joint lead underwriters for the offering.
This will be the third medium-term notes issued by the company this year.

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