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China Huadian to issue RMB 4 bln bills

Aug. 31, 2012 (China Knowledge) - China Huadian Corp, one of the five largest state-owned power generation enterprises in the country, has said it will issue RMB 4 billion in super short-term bills with a maturity of 270 days on the interbank market today.

The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building.

Both value and payment due date is set on Sep 3, and the to-be-issued bills tradable Sep 4.

All the proceeds from the issue will be used to repay bank loans, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer AAA.

China Development Bank has been assigned as the lead underwriter and bookrunner. Bank of Beijing Co Ltd<601169> will be the joint lead underwriter for the offering.

This will be the issuer's second super short-term bills this year.

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