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China Three Gorges to issue RMB 6 bln 5-year MTN

Mar 21, 2016 (China Knowledge) - China Three Gorges Corporation, a state-owned hydropower enterprise in charge of the most important water project in the country, has announced that it will issue RMB 6 billion unsecured medium term notes with a maturity of 5 years on the interbank market on Mar 23.

The corporation said in a statement that the notes will be issued at the face value, and the coupon rate determined in the process of bookbuilding.

Both value date and payment due date is set on Mar 25, and the to-be-issued notes tradable on Mar 28.

China Chengxin International Credit Rating Co., Ltd has rated the issuer and notes at AAA and AAA, respectively. The rating agency's view is the issuer has strong repayment ability and not affected by external economic factors, the possibility of default is considered lowest.

Agricultural Bank of China Co., Ltd<601288><1288> has been mandated as lead underwriter and bookrunner. Citic Securities Co., Ltd<600030><6030> will be the joint lead underwriter.

This will be the issuer's first medium term notes this year.






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