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Huadian Power to issue CNY 3.5 billion bills

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Publish time: 21st September, 2012      Source: ChinaCCM
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Huadian Power International Corp China largest independent power producer plans to issue CNY 3 billion in super short term bills with a maturity of 270 days in the interbank market on September 19.

The company said in a statement that the bills will be issued at face value and the coupon rate determined in the process of book building. Both value and payment due date is set on September 20 and the to be issued bills tradable September 21.

The issuer said all the proceeds from the issue will be used to repay bank loans.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and A-1 respectively. Bank of China Co Ltd and Bank of Beijing Co Ltd will be the joint lead underwriter for the offering.

This will be the issuer second super short term bills this year.