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China Datang to issue RMB 5 bln bills

Jun. 26, 2012 (China Knowledge) - China Datang Corp, the second-largest electricity producer in China, said that it plans to issue RMB 5 billion worth of unsecured short-term bills with a maturity of 365 days on the interbank market from Jul.3 to Jul. 4.
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 Jul. 5 and the to-be-issued bills tradable on Jul. 6.
Dagong Global Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.

Agricultural Bank of China Ltd or ABC<601288><1288> has been hired as book-runner and lead underwriter for the offering, and Bank of China Ltd<601988><3988> will be joint lead underwriter.
Proceeds from the deal will be used to replenish the company's working capital and repay bank loans.

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