China National Building Material Co Ltd has announced that it plans to issue RMB 3.5 billion in super short term bills with a maturity of 270 days on the interbank market.

According to a statement, the power company said that the bills will be issued at the face value, and the coupon rate determined in the process of book-building.

Both value date and payment due date is set on May 27 and the to-be-issued bills tradable on May 28. Dagong Global Credit Rating Co Ltd has rated the issuer AAA. Proceeds from the deal will be used to replenish the company's working capital.

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