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China Minmetals Corp to issue RMB 2 bln short-term bills

Oct. 23, 2012 (China Knowledge) - China Minmetals Corp, the country's largest state-owned metal and mineral producer and trader, 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 Oct 24.

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 25, and the to-be-issued bills tradable Oct 26.

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.

Bank of China<601988><3988> has been hired as lead underwriter and bookrunner. Bank of Beijing Co Ltd <601169> will be the joint lead underwriter for the offering.

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

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