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China Datang to issue RMB 5 bln bills

May. 10, 2012 (China Knowledge) – China Datang Corp, the second-largest electricity producer in China, has said it will issue RMB 5 billion in super short-term bills with a maturity of 90 days on the interbank market on May 11.

The electricity producer said in a statement that the bills will be issued at face value, and the coupon rate to be determined in the process of bookbuilding.

Both value date and payment due date is set on May 14, and the to-be-issued bills are tradable May 15.

RMB 2 billion of the proceeds will be used to replenish working capital while the rest RMB 3 billon to repay bank loans, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer AAA.

China Construction Bank Co<601939><0939> has been assigned as lead underwriter and bookrunner, and Industrial Bank Co Ltd<601166> will be the joint lead underwriter for the offering.






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