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China CNR to issue RMB 2 bln bills

Sep. 14, 2012 (China Knowledge) - China CNR Corp<601299>, one of China’s two leading train manufacturers, has announced it will issue RMB 2 billion in super short-term bills with a maturity of 270 days in the interbank market on Sep 14.

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 Sep 18, and the to-be-issued bills tradable Sep 19.

All the proceeds from the issue will be used to repay bank loads, said the issuer.

China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.

China CITIC Bank Co Ltd<601998><0998> has been hired as lead underwriter and book-runner. China Minsheng Banking Corp Ltd<600016><1988> will be joint lead underwriter for the offering.

This will be the issuer's third super short-term bills this year.

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