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Huaneng Powerto issue RMB 5 bln bills

Jun. 4, 2012 (China Knowledge) – Huaneng Power International Inc<600011><0902>, China's largest listed power company, announced that it plans to issue RMB 5 billion in super short-term bills with a maturity of 270 days on the interbank market on Jun 5.

According to a statement, the power company said that the bills will be issued at the face value, and the coupon rate will be determined in the process of bookbuilding.

Both value date and payment due dateis set on Jun 6, and the to-be-issued bills tradable Jun 7.

RMB 2.5 billion of the proceeds will be used to replenish working capital and the rest RMB 2.5 billon to repay bank loans, said the issuer.

China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.

China Construction Bank Co<601939><0939> has been assigned as lead underwriter and bookrunner, and Bank of Communications<601328><3328> will be the joint lead underwriter for the offering.

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