Oct. 18, 2012 (China Knowledge) - China National Travel Service (HK) Group Corporation, a conglomerate engaging in property development and logistics as well as travel services, has announced it plans to issue RMB 1 billion in super short-term bills with a maturity of 60 days in the interbank market on Oct 19.
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 22, and the to-be-issued bills tradable Oct 23.
All the proceeds from the issue will be used to replenish working capital, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer AAA.
Bank of China<601988
> has been hired as lead underwriter and bookrunner. China Merchants Bank Co Ltd<600036
> will be the joint lead underwriter for the offering.
This will be the issuer's first super short-term bills this year.