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State Grid to issue RMB 10 bln in notes

Sep. 6, 2012 (China Knowledge) - State Grid Corp of China, the nation's largest power supplier, has said today that it plans to issue RMB 10 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market on Sep. 12.

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 Sep. 13 and the to-be-issued notes tradable Sep. 14.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
 
Agricultural Bank of China Ltd or ABC<601288><1288> has been hired as book-runner and lead underwriter for the offering, and Industrial Bank Co Ltd<601166> will be joint lead underwriter.
 
This will be the second medium-term notes issued by the company this year.







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