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China Southern Power Grid to issue RMB 5 bln bills

Jun. 13, 2012 (China Knowledge) – China Southern Power Grid, the country's second-biggest power transmission company, said it will issue RMB 5 billion in super short-term bills with a maturity of 180 days on the interbank market on Jun 14.

The company said in a statement that the bills will be issued at the face value, and the coupon rate will be determined in the process of book-building.

Both value date and payment due date is set on Jun 15, and the to-be-issued bills are tradable Jun 18.

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

China Construction Bank Co<601939><0939> has been assigned as the lead underwriter and bookrunner. China Minsheng Banking Corp Ltd<600016><1988> will be the joint lead underwriter.

The issuer said that all the proceeds from the issue will be used to replenish working capital.

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