Aug. 22, 2012 (China Knowledge) - China Minmetals Corp, the country's largest state-owned metal and mineral producer and trader, has said it will issue RMB 2 billion in unsecured super short-term bills with a maturity of 90 days in the interbank market on Aug 23.
The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building.
Both value and payment due date is set on Aug 24, and the to-be-issued bills tradable Aug 27.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.
Industrial and Commercial Bank of China<601398
> and China International Capital Corp have been assigned as the joint lead underwriters for the offering.
This will be the issuer's first super short-term bills this year.