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COFCO to issue RMB 5 bln bills

Oct. 31, 2012 (China Knowledge) - China's state-owned COFCO Corp, a leading grain, oil and foodstuff import and export group in the country, has announced it plans to issue RMB 5 billion in super short-term bills with a maturity of 270 days in the interbank market on Oct 31.

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 Nov 1, and the to-be-issued bills tradable Nov 2.

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

China Lianhe Credit Rating Co Ltd has rated the issuer AAA.

Bank of China<601988><3988> has been hired as lead underwriter and bookrunner. CITIC Securities Co<600030><6030> will be the joint lead underwriter for the offering.

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

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