China Knowledge reported that China CNR Corp one of China two leading train manufacturers will issue CNY 2 billion in super short term bills with a maturity of 270 days in the interbank market on September 14.

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 September 18 and to be issued bills tradable September 19.

The issuer said all the proceeds from the issue will be used to repay bank loads. China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.

China CITIC Bank Co Ltd has been hired as lead underwriter and book-runner. China Minsheng Banking Corp Ltd will be joint lead underwriter for the offering.

This will be the issuer third super short term bills this year.

Source - China Knowledge

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