Aug. 23, 2012 (China Knowledge) - China Huaneng Group, the country's top power producer and the parent company of Huaneng Power International Inc<600011
>, has said that it plans to issue RMB 1.5 billion worth of unsecured medium-term notes with a maturity of ten years on the interbank market on Aug. 29.
The company said in a statement that the notes will be issued at face value and coupon rate determined in the process of book-building.
Both value and payment due date is on Aug. 30 and the to-be-issued notes tradable Aug. 31.
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
China Everbright Bank Co Ltd<601818> has been hired as book-runner and lead underwriter for the offering, and Bank of Communications<601328
> will be joint lead underwriter.
This will be the first medium-term notes issued by the group this year.