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Sinohydro to issue RMB 1.2 bln in bills

Mar. 19, 2012 (China Knowledge) - Sinohydro Group Ltd<601669>, a Chinese dam builder, has announced that it plans to issue RMB 1.2 billion worth of 365-day unsecured bills on the interbank market on Mar. 23, sources reported.

Coupon rate will be determined in the process of book-building and the bills be issued at face value. Both value date and payment due date is Mar. 26, and the to-be-issued bills tradable on Mar. 27.
Dagong Global Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.

Bank of China Ltd<601988><3988> has been hired as lead underwriter and book-runner for the offering, and Shanghai Pudong Development Bank Co Ltd<600000> will be co-lead underwriter.

In a separate statement, the company said that it plans to issue RMB 900 million medium-term notes with a maturity of five years. Dagong Global Credit Rating Co has rated the issuer and notes AAA and AAA, respectively.

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