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China Railway 21st Bureau to issue RMB 500 mln bills

Dec. 11, 2012 (China Knowledge) - China Railway 21st Bureau Group Co Ltd has said it will issue RMB 500 million in short-term bills with a maturity of 365 days on the interbank market on Dec. 14.

The company said 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. 17, and the to-be-issued bills tradable Dec. 18.

RMB 250 million of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 250 million to repay bank loans, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA and A-1, respectively.

China Construction Bank<601939><0939> has been hired as lead underwriter and bookrunner. China Minsheng Banking Corp Ltd<600016><1988> will be the joint lead underwriter for the offering.

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