Aug. 17, 2012 (China Knowledge) - CITIC Securities Co<600030
>, China's largest listed brokerage firm, has said today that it will issue RMB 5 billion in unsecured super short-term bills with a maturity of 91 days on the interbank market on Aug. 22.
The company said that the bills will be issued at face value, and the coupon rate determined through tender process.
Both value and payment due date will be on Aug. 23, and the to-be-issued bills tradable Aug. 24.
Dagong Global Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
Proceeds from the deal will be used to replenish the company's working capital.
Underwriters for the offering include Industrial and Commercial Bank of China<601398
>, China Construction Bank Co<601939
> and Agricultural Bank of China Ltd or ABC<601288
This will be the first short-term bills issued by the company this year.