Sep. 24, 2012 (China Knowledge) - China CNR Corporation Ltd<601299
>, one of China's two leading train manufacturers, has announced it plans to issue RMB 2 billion in super short-term bills with a maturity of 180 days in the interbank market on Sep 25.
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 26, and the to-be-issued bills tradable Sep 27.
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 issue AAA.
China Development Bank has been hired as lead underwriter and bookrunner. Huaxia Bank Co Ltd<600015
> will be the joint lead underwriter for the offering.
This will be the issuer's fourth super short-term bills this year.