OREANDA-NEWS. October 12, 2011. China National Petroleum Corp or CNPC, the parent firm of PetroChina Co Ltd, will issue RMB 15 billion in short-term financing bills with a maturity of one year on the inter-bank market.

The company said in a statement that the coupon rate will be determined in the process of book building.

Both value date and payment due date is set at Oct. 12, and the to-be-issued bills tradable on Oct. 13.

Proceeds from the deal will be used to replenish the firm's working capital.

China Lianhe Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively. Industrial and Commercial Bank of China and Bank of Communications will be joint lead underwriters for the offering.