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Fujian Communication Transportation to issue RMB 500 mln bills

Aug. 24, 2012 (China Knowledge) - Fujian Provincial Communication Transportation Group Co has said that it will issue RMB 700 million in unsecured bills with a maturity of 365 days on the interbank market on Aug. 30.

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. 31, and the to-be-issued bills  tradable on Sep. 3.

China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA and A-1, respectively.
China CITIC Bank Corp<601998><0998> has been assigned as book-runner and lead underwriter for the offering.
Proceeds from the deal will be used to replenish the company's working capital.

This will be the second short-term bills issued by the company this year.

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