Aug. 24, 2012 (China Knowledge) - Yuchai Machinery Co has said that it will issue RMB 1 billion in unsecured bills with a maturity of 365 days on the interbank market on Aug. 28.
The company said 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 will be on Aug. 29, and the to-be-issued bills tradable Aug. 30.
China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.
Industrial and Commercial Bank of China<601398
> has been assigned as book-runner and lead underwriter for the offering.
This will be the first short-term bills issued by the company this year.
In the first quarter of this year, the company's net profit was RMB 203 million and its operating revenue was RMB 3.77 billion.