Jun. 25, 2012 (China Knowledge) - China Guodian Corp, the parent company of GD Power Development Co<600795
>, has announced that it plans to issue RMB 5 billion in super short-term bills with a maturity of 270 days on the interbank market tomorrow.
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 Jun. 27 and the to-be-issued bills tradable on Jun. 28.
China Lianhe Credit Rating Co Ltd has rated the issuer AAA.
Bank of Shanghai and Industrial Bank Co Ltd<601166
> have been hired as joint lead underwriters for the offering.
Proceeds from the deal will be used to repay bank loans.
In 2011, the group's net profit soared 58.6% YoY to RMB 6.08 billion.