Apr. 17, 2012 (China Knowledge) - China Guodian Corp, the parent of GD Power Development Co<600795
>, has announced that it plans to issue RMB 5 billion worth of 270-day unsecured bills on the interbank market tomorrow, 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 Apr. 20 and the to-be-issued bills tradable on Apr. 21.
China Lianhe Credit Rating Co Ltd has rated the issuer AAA.
China CITIC Bank Corp<601998
> and China Zheshang Bank have been hired as joint lead underwriters for the offering.
In 2011, China Guodian's net profit reached RMB 6.08 billion and its operating revenue hit RMB 214.3 billion. As of the end of last year, the group's installed power capacity had increased 12% year on year to 106.72 gigawatt.