Oct. 22, 2012 (China Knowledge) - Guangdong
Rising Assets Management Co Ltd, a state-owned investment group in China, has announced it plans to issue RMB 3 billion in short-term bills with a maturity of 365 days in the interbank market on Oct 29.
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 30, and the to-be-issued bills tradable Oct 31.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
China Minsheng Banking Corp Ltd<600016
> has been hired as lead underwriter and bookrunner. China Guangfa Bank Co Ltd will be the joint lead underwriter for the offering.
This will be the issuer's first short-term bills this year.