Aug. 16, 2012 (China Knowledge) - Huaneng Lancang River Hydropower Co, controlled by China Huaneng Group, has said it will issue RMB 2 billion worth of short-term bills with a maturity of 365 days in the interbank market on Aug 21.

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 Aug 22, and the to-be-issued bills tradable Aug 23.

All the proceeds from the issue will be used to repay bank loans, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.

Bank of China<601988><3988> has been assigned as the lead underwriter and bookrunner. China Development Bank will be the joint lead underwriter for the offering.

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