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China Marine Bunker to issue RMB 300 mln MTN

Oct. 24, 2012 (China Knowledge) - China Marine Bunker (PetroChina) Co Ltd, a unit of PetroChina Co Ltd<601857><0857>, has announced it will issue RMB 300 million in medium-term notes with a maturity of five years in the interbank market on Oct 26.

The company said in a statement that the notes 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 29, and the to-be-issued notes tradable Oct 30.

All the proceeds from the notes will be used to replenish working capital, said the issuer.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AA+ and AA+, respectively.

China Merchants Bank Co Ltd<600036><3968> has been hired as lead underwriter and bookrunner for the offering.

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