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Sinopec to issue RMB 5 bln in 90 day bills

Sep. 12, 2012 (China Knowledge) - Sinopec Group, the parent co of Sinopec<600028><0386>, 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><0939> will be joint lead underwriters for the offering.

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

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