Mitsubishi Corporation

Press Room

December 21, 2011

Establishment of the Renminbi-denominated Commercial Paper Programme in China

Mitsubishi Corporation (MC) announced that it recently registered a programme for issuing commercial paper denominated in Chinese renminbi (RMB) with the National Association of Financial Market Institutional Investors (NAFMII) of China. This programme registration enables Mitsubishi Corporation (China) Co., Ltd., MC’s subsidiary in China, to issue commercial paper in RMB with Bank of China Limited as the arranger and Bank of Tokyo-Mitsubishi UFJ (China), Ltd. as advisor. The Company plans to continuously issue commercial paper in China under this programme. This marks the first time for a wholly owned subsidiary of a foreign company in China to register a programme for issuing RMB-denominated commercial paper in the Chinese domestic bond market.
 
MC has diversified its fund procurement in an effort to strengthen its funding ability. MC, moreover, has designated China as one of its strategic regions for investing heavily in all financial and human and management resources, as well as for vigorously developing business companywide in line with its Midterm Corporate Strategy 2012. This capability to issue RMB-denominated commercial paper within China will enable MC to step up its robust development of business activities in this strategically important country.
 
 
Description of Commercial Paper Programme
1. Issuer: Mitsubishi Corporation (China) Co., Ltd.
2. The maximum aggregate amount:
     Not to exceed 40% of the net assets of the issuer (as a statutory requirement, currently 500 million RMB)
3. Credit rating: Obtained from China Chengxin International Credit Rating Co., Ltd.
     Issuer rating: AA
     Commercial paper rating: A-1
4. Arranger: Bank of China Limited
5. Advisor: Bank of Tokyo-Mitsubishi UFJ (China), Ltd.
6. Registration date: December 19, 2011
 
 
Description of the Issuer
Company name: Mitsubishi Corporation (China) Co., Ltd.
Representative: Masahide Yano (Member of the Board, Senior Executive Vice President, of Mitsubishi Corporation, and concurrently President of Mitsubishi Corporation (China) Co., Ltd.)
Establishment: June 1995
Address: 96 Ying Chun Lu, Pu Dong Xin Qu, Shanghai, China

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