Nov. 14, 2012 (China Knowledge) - China National Building Material Company Limited<3323
>, a leading cement manufacturer in China, has said it plans to issue RMB 3 billion in super short-term bills with a maturity of 270 days in the interbank market on Nov 15.
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 16, and the to-be-issued bills tradable Nov 19.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer AAA.
China Construction Bank Corp <601939
> has been hired as lead underwriter and bookrunner. China Minsheng Banking Corp Ltd<600016
> will be the joint lead underwriter for the offering.
This will be the issuer's second super short-term bills this year.