Aug. 29, 2012 (China Knowledge) - China Minmetals Corp, the country's largest state-owned metal and mineral producer and trader, has announced its plan to issue RMB 2 billion in super short-term bills with a maturity of 180 days in the interbank market on Aug 30.
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 31, and the to-be-issued bills tradable Sep 3.
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 issue AAA.
Agricultural Bank of China Ltd or ABC<601288
> and Bank of Beijing Co Ltd <601169
> will be the joint lead underwriter for the offering.
This will be the issuer's second super short-term bills this year.