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Huadian Power Int'l mulls issuing RMB 10 bln notes

Feb. 7, 2012 (China Knowledge) - Huadian Power International Corp<600027><1071>, China's largest independent power producer, is preparing to issue RMB 10 billion worth of notes with a maturity of five years via a private placement this month, sources reported.

China Construction Bank<601939><0939> has been assigned as the lead underwriter, said a person familiar with the matter. More details, including timetable, have yet been disclosed.

The issuer's power output for 2011 totaled 150,760 gigawatt hours, reflecting a year-on-year increase of 15.71%.

Huadian Group, the parent company of the issuer, last November issued RMB 3 billion of five-year notes on the interbank market with a coupon rate of 5.28%.

Industrial and Commercial Bank of China<601398><1398> was the bookrunner, and China Merchants Bank<600036><3968> was the lead underwriter. China Chengxin International Credit Rating Co Ltd has rated Huadian Group and the notes AAA and AAA, respectively.






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