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Sichuan Hydropower to issue RMB 460 mln unsecured MTN

Feb. 10, 2012 (China Knowledge) - Sichuan Hydropower Investment & Management Group Co has announced plans to issue RMB 460 million worth of unsecured medium term notes with a maturity of five years on the interbank market on Feb. 14.

Coupon rate will be determined in the process of book-building. Both value date and payment due date is Feb. 15, and the to-be-issued notes tradable on Feb. 16.

Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.

China Everbright Bank Co Ltd<601818> has been assigned as the lead underwriter and bookrunner.

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

As of Sep. 30, 2011, the issuer had RMB 18.84 billion in total assets with debt/asset ratio of 70.45%, and the firm's operating revenue for the first nine months of last year totaled RMB 1.4 billion.

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