China Knowledge reported that Yuchai Machinery Co has said that it will issue CNY 1 billion in unsecured bills with a maturity of 365 days on the interbank market on August 28.

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 will be on August 29 and the to be issued bills tradable August 30.

China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.

Industrial and Commercial Bank of China has been assigned as book-runner and lead underwriter for the offering. This will be the first short-term bills issued by the company this year.

Source - China Knowledge

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