China Railway Corp will invite biddings for 20 billion yuan 10-year and 20-year fixed-rate bonds Friday. The Chinese railway giant plans to raise 15 billion yuan via the 10-year tranche and five billion yuan via the 20-year tranche next day.
According to its announcement, value date for the bond issues is May 18. The bonds as well as the issuer are rated AAA by China Cheng Xin International Credit Rating Co., Ltd.
China's railway construction fund provides irrevocable joint and several liability guarantee for the products. Its underwriter team consists of six securities brokers including Guotai Junan Securities Co., Ltd., BOC International (China) Ltd., and Shenwan Hongyuan Securities, who are committed to provide standby underwriting for these issues.
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