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China Southern Power Grid to issue RMB 5 bln in 180 day bills

Sep. 13, 2012 (China Knowledge) - China Southern Power Grid Co., the smaller of China's two electricity distributors, has said that it plans to issue RMB 5 billion in super short-term bills with a maturity of 180 days on the interbank market today.

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.14 and the to-be-issued bills tradable Sep. 17.

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

Industrial and Commercial Bank of China<601398><1398> has been assigned as lead underwriter and book-runner, and Agricultural Bank of China Ltd or ABC<601288><1288> will be joint lead underwriter for the offering.

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

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