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CPI Mengdong Energy Group to issue RMB 500 mln bills

Jun. 29, 2012 (China Knowledge) - CPI Mengdong Energy Group Co Ltd, a subsidiary of China Power Investment Corp, announced that it will issue RMB 500 million in unsecured bills with a maturity of 365 days on the interbank market on Jul. 3, sources reported.

The company said 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 will be Jul. 4, and the to-be-issued bills are tradable on Jul. 5.

Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.

China Construction Bank Co<601939><0939> has been assigned as the lead underwriter and book-runner for the offering.

This will be the issuer's second short-term bill this year, sources reported.

In the first quarter of this year, the company's net profit was RMB 422 million and its operating revenue was RMB 4.76 billion.

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