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Guangxi Railway Inv’t to issue RMB 1 bln bills

Nov. 1, 2012 (China Knowledge) - Guangxi Railway Investment Group Co Ltd, wholly-owned by the People's Government of Guangxi Zhuang Autonomous Region, has announced it plans to issue RMB 1 billion in short-term bills with a maturity of 365 days in the interbank market on Nov 6.

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 8, and the to-be-issued bills tradable Nov 9.

RMB 880 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 120 million to repay bank loans, said the issuer.

China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.

China CITIC Bank Corp<601998><0998> has been hired as lead underwriter and bookrunner.China Minsheng Banking Corp Ltd<600016><1988> will be the joint lead underwriter for the offering.

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







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