China Knowledge reported that China National Petroleum Corp or CNPC, the parent company of PetroChina Co Ltd will plan to issue CNY 20 billion worth of unsecured medium term notes with a maturity of six years on the interbank market on September 10.

The company said in a statement that the notes will be issued at face value. Both value and payment due date is on September 11 and the to-be-issued notes tradable September 12.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AAA and AAA respectively. Industrial and Commercial Bank of China and China CITIC Bank Corp have been hired as joint lead underwriters for the offering.

This will be the fourth medium-term notes issued by the company this year.