Sep. 12, 2012 (China Knowledge) - Sinopec Group, the parent co of Sinopec<600028
>, Asia's largest oil refiner, has announced today that it plans to issue RMB 5 billion in super short-term bills with a maturity of 90 days on the interbank market tomorrow.
The oil refiner 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 Sep. 14, and the to-be-issued bills tradable Sep. 17.
China Lianhe Credit Rating Co Ltd has rated the issuer AAA.
China Development Bank and China Construction Bank Corp<601939
> will be joint lead underwriters for the offering.
This will be the second super short-term bills issued by the group this year.