Jun. 14, 2012 (China Knowledge) – China Power Investment Corp, parent company of Hong Kong-listed
China Power International Development Ltd<2380
>, announced that it plans to issue RMB 6 billion worth of super short-term bills with a maturity of 270 days in the inter-bank market on Jun 18.
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 19, and the to-be-issued bills tradable Jun 20.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.
China Everbright Bank Co Ltd<601818> has been assigned as the lead underwriter and bookrunner. Industrial and Commercial Bank of China or ICBC<601398
> will be the joint lead underwriter for the offering.
This will be the issuer's third super short-term bill this year, sources reported.