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China National Building Material to issue RMB 3 bln bills

Oct. 17, 2012 (China Knowledge) - China National Building Material Company Limited<3323>, a leading cement manufacturer in China, has announced it plans to issue RMB 3 billion in super short-term bills with a maturity of 270 days in the interbank market on Oct 17.

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

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

Dagong Global Credit Rating Co Ltd has rated the issuer AAA.

Bank of Communications<601328><3328> has been hired as lead underwriter and bookrunner. Shanghai Pudong Development Bank Co Ltd<600000> will be the joint lead underwriter for the offering.

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

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