Dec. 3, 2012 (China Knowledge) - Guotai Junan Securities, one of the largest brokerages in China, has announced it plans to issue RMB 2 billion in super short-term bills with a maturity of 90 days on the interbank market on Dec 6.
According to a statement, the company said the bills will be issued at the face value, and the coupon rate will be determined in the process of bookbuilding.
Both value date and payment due date is Dec 7, and the to-be-issued bills are tradable on Dec 10.
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 the bills AAA and A-1, respectively.
This will be the issuer's fourth short-term bill this year, sources reported.