Feb. 7, 2012 (China Knowledge) - Huadian Power International Corp<600027
>, 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
> 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
> was the bookrunner, and China Merchants Bank<600036
> was the lead underwriter. China Chengxin International Credit Rating Co Ltd has rated Huadian Group and the notes AAA and AAA, respectively.