China Railway Group to issue RMB 1 bln in financing bills
Published: 14 Jun 2009 17:22:22 PSTJun. 15, 2009 (China Knowledge) - China Railway Group Ltd<601390><0390>, the country's leading railway and highway builder, plans to issue RMB 1 billion worth of short-term financing bills on the interbank market on Tuesday. Both the value date and the payment date of the five-year notes will be Jun. 17, 2009. The one-year bills will become tradable on Jun.18, 2009, according to the company's statement. The financing bills will be issued at face value and the yield will be determined in the process of book building. The proceeds from the issuance will be mainly used to replenish working capital for the company and its subsidiaries. China Lianhe Credit Rating Co Ltd has rated the issuer and the bills AAA and A-1, respectively. Industrial and Commercial Bank of China (ICBC)<601398><1398> has been assigned as the major underwriter for the sale. This is China Railway's second short-term financing bill issue this year. Copyright © 2009 www.chinaknowledge.com |
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