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Jiangsu Nuclear Power to issue RMB 1.6 bln bills

Jul. 5, 2012 (China Knowledge) - Jiangsu Nuclear Power Corp will issue RMB 1.6 billion in unsecured bills with a maturity of 365 days on the interbank market on Jul. 11, 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. 12, and the to-be-issued bills are tradable on Jul. 13.

China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.

Bank of China Ltd<601988><3988> has been assigned as lead underwriter and book-runner for the offering.

Proceeds from the offering will be used to replenish its company's working capital and repay bank loans.

This will be the issuer's first short-term bills this year.
In the first quarter of this year, the company's net profit was RMB 360 million, and its operating revenue was RMB 1.21 billion.

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