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Huadian Power to issue RMB 2 bln in bills

Sep. 7, 2012 (China Knowledge) - Huadian Power International Corp<600027><1071>, China's largest independent power producer, has announced that it plans to issue RMB 2 billion in unsecured short-term bills with a maturity of 365 days on the interbank market on Sep. 12.

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

Both value and payment due date is set on Sep. 13, and the to-be-issued bills tradable Sep. 14.

China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.

Industrial and Commercial Bank of China<601398><1398> has been hired as lead underwriter for the deal.

This will be the second short-term bills issued by the company this year.

In the first half of this year, the company's net profit soared 127.01% YoY to RMB 269.94 million and its operating revenue rose 11.55% to RMB 29.56 billion.

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