Sep. 14, 2012 (China Knowledge) - China National Aviation Fuel, or CNAF, the largest state-owned aviation fuel supplier, has said that it plans to issue RMB 3 billion in super short-term bills with a maturity of 180 days on the interbank market Sep. 20.
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 Sep. 21 and the to-be-issued bills tradable Sep. 24.
The issuer and bills have been rated AAA and A-1, respectively.
China Zheshang Bank and Bank of Nanjing Co Ltd<601009
> have been hired as joint lead underwriters for the offering.
This will be the first super short-term bills issued by the company this year.