Jul. 11, 2012 (China Knowledge) - State Grid Corp of China, the nation's largest power supplier, has said that it will issue RMB 10 billion in unsecured bills with a maturity of 365 days on the interbank market on Jul.17, sources reported.
The company said that the bills will be issued at 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.18, and the to-be-issued bills are tradable on Jul.19.
China Lianhe Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
China Construction Bank Co<601939
> and China CITIC Bank Corp<601998
> will be joint lead underwriters for the offering.
This will be the first short-term bills issued by the company this year.