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China Yangtze Power to issue RMB 5.5 bln in bills

Apr. 16, 2012 (China Knowledge) - China Yangtze Power Co<600900>, the country's largest listed hydropower corporation and operator of the massive Three Gorges Dam in Southwest China, said today that it plans to issue RMB 5.5 billion worth of 365-day unsecured bills on the interbank market on Apr. 19, sources reported.

Coupon rate will be determined in the process of book-building and the bills will be issued at face value. Both value date and payment due date is on Apr. 20, and the to-be-issued bills tradable on Apr. 23.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.

China Construction Bank Co<601939><0939> has been hired as lead underwriter for the offering, and Agricultural Bank of China Ltd or ABC<601288><1288> will be joint lead underwriter for the offering.
This will be the second short-term bills issued by the power producer this year.

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