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CITIC Securities to issue RMB 5 bln in 91 day bills

Sep. 13, 2012 (China Knowledge) - CITIC Securities Co<600030>, China's largest listed brokerage firm, has said today that it will issue RMB 5 billion in unsecured super short-term bills with a maturity of 91 days on the interbank market on Sep. 18.

The company said that the bills will be issued at face value, and the coupon rate determined through tender process.

Both value and payment due date will be on Sep. 19, and the to-be-issued bills tradable Sep. 20.

Dagong Global Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
 
Proceeds from the deal will be used to replenish the company's working capital.

Underwriters for the offering include Industrial and Commercial Bank of China<601398><1398>, China Construction Bank Co<601939><0939> and Agricultural Bank of China Ltd or ABC<601288><1288>.
 
This will be the second short-term bills issued by the company this year.

The company booked a net profit of RMB 2.25 billion in the first half of this year, 24.37% less than in the same period of last year.







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