China Sinotrans to issue 3 year CNY 1.5 billion bonds

Thursday, 11 Dec 2008

China Knowledge reported that China National Foreign Trade Transportation Group Corporation which operates under the direct administration of State-owned Assets Supervision and Administration Commission would issue ten-year fixed-rate bonds worth CNY 1.5 billion on the interbank market on December 9th.

According to the report, the yield will be determined during the process of booking building, and the proceeds will be used to fund the construction of strategic logistic infrastructure projects in the Pearl River Delta, the Yangtze River Delta and the Bohai Bay area.

The value date and payment due day will both start from December 17th. The bonds will become tradable on December 18th.

China Chengxin International Rating Co has rated the issuer and the bonds AAA and AAA respectively.