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China National Building Material to issue RMB 3 bln bills

Nov. 28, 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 180 days in the interbank market on Nov 29.

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 30, and the to-be-issued bills tradable Dec 3.

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 Everbright Bank Co Ltd<601818> has been hired as lead underwriter and bookrunner. Agricultural Bank of China Ltd<601288><1288> will be the joint lead underwriter for the offering.

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

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