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China Huaneng to issue RMB 5 bln in 270 day bills

Sep. 12, 2012 (China Knowledge) - Huaneng Power International Inc<600011><0902>, China's largest listed power company, has announced today that it plans to issue RMB 5 billion in super short-term bills with a maturity of 270 days on the interbank market tomorrow.

According to a statement, the power company said 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.17 and the to-be-issued bills tradable Sep. 18.

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

Bank of China Ltd<601988><3988> has been assigned as lead underwriter and book-runner, and China Everbright Bank Co Ltd<601818> will be the joint lead underwriter for the offering.

This will be the fourth super short-term bills issued by the company this year.
The company's net profit attributable to shareholders rose 87.36% YoY to RMB 2.21 billion in the first half of this year, due to higher power tariffs and effective cost control.

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