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AVIC to issue 2 bln in 270 day bills

Aug. 28, 2012 (China Knowledge) - Aviation Industry Corporation of China (AVIC), the country's top aircraft manufacturer, has announced today that it plans to issue RMB 2 billion in super short-term bills with a maturity of 270 days on the interbank market tomorrow.

According to a statement, the power 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 is set on Aug. 30 and the to-be-issued bills tradable Aug. 31.

China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.

China Construction Bank Co<601939><0939> has been assigned as lead underwriter and book-runner, and China Merchants Bank<600036><3968> will be the joint lead underwriter for the offering.
This will be the second super short-term bills issued by the company this year.

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