On August 26, China's national railway operator China Railway Corporation (CRC) announced that it will issue its third tranche of railway construction bonds in the current year, worth RMB 20 billion ($3.3 billion) and for a term of seven years.
This will be the company's third issue of bonds since late July this year aimed at providing funds to support construction of domestic railways. China Railway Corporation (CRC) issued bonds worth RMB 20 billion in each of the previous two issues.
The underwriters of the bond issue in question are China Development Bank Securities, Essence Securities, China Merchants Securities, Huatai United Securities, Southwest Securities and China International Capital Corporation Limited. Beijing-based China Cheng Xin International Credit Rating Co. has ranked the rating of the railway construction bonds in question as AAA, and has ranked the issuer's credit rating as AAA.
