China Knowledge reported that China CNR Corp, one of China two leading train manufacturers plan to issue CNY 2 billion in super short term bills with a maturity of 180 days in the interbank market on Aug 24.

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 August 28 and the to be issued bills tradable August 29.

The issuer said all the proceeds from the issue will be used to repay bank loans.

China Chengxin International Credit Rating Co Ltd has rated the issue AAA. Agricultural Bank of China Ltd has been assigned as the lead underwriter and bookrunner. China Everbright Bank Co Ltd will be the joint lead underwriter for the offering.

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

Source - China Knowledge

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