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Huaneng Lancang River Hydropower to issue RMB 1 bln 270-day bills

May 10, 2016 (China Knowledge) - Huaneng Lancang River Hydropower Co., Ltd,  a state-owned enterprise mainly focusing on hydropower development in Yunnan Province, has announced that it will issue RMB 1 billion unsecured super short term bills with a maturity of 270 days on the interbank market on May 12.

The corporation said in a statement that the bills 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 May 16, and the to-be-issued bills tradable on May 17.

Dagong Global Credit Rating Co., Ltd has rated the issuer at AAA. Such rating denotes the lowest expectation of default risk. It indicates that the issuer has exceptionally strong capacity for payment of financial commitments. Although the debt factors may change this capacity is highly unlikely to be adversely affected by any foreseeable event.

China Construction Bank Co., Ltd<601939><0939> has been mandated as lead underwriter and bookrunner. Agricultural Bank of China Co., Ltd<601288><1288> will be the joint lead underwriter.

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

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