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Datang Power to issue RMB 3 bln bills

Jul. 16, 2012 (China Knowledge) - Datang International Power Generation Co Ltd<601991><0991>, China's second-largest publicly-traded power supplier, announced that it plans to issue RMB 3 billion in super short-term bills with a maturity of 90 days on the interbank market on July 17, sources reported.

The power supplier said in a statement 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 is set on July 18, and the to-be-issued bills tradable July 19.

China Cheng Xin International Credit Rating Co Ltd has rated the issuer AAA.

China Development Bank or CDB has been assigned as the lead underwriter and book-runner. Agricultural Bank of China Ltd or ABC<601288><1288> will be the joint lead underwriter for the offering.

The company said that all the proceeds will be used to replenish working capital.

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