Nov. 30, 2012 (China Knowledge) - Guangfa Securities Co Ltd has announced it plans to issue RMB 3 billion in super short-term bills with a maturity of 90 days in the interbank market on Dec 4.
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 Dec 5, and the to-be-issued bills tradable Dec 6.
All the proceeds from the issue will be used to replenish working capital, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
This will be the company's second super short-term bills this year.