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Metallurgical Corp to issue RMB 3 bln bills

Sep. 19, 2012 (China Knowledge) - Metallurgical Corp of China Ltd<601618><1618>, the country's leading mining and smelting operator, announced that it plans to issue RMB 3 billion in super short-term bills with a maturity of 270 days in the interbank market on Sep 20.

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 21, and the to-be-issued bills tradable Sep 24.

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

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

Agricultural Bank of China Ltd<601288><1288>, has been hired as lead underwriter and bookrunner. China Minsheng Banking Corp Ltd<600016><1988> will be the joint lead underwriter for the offering.

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







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