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Guangdong Hydropower Group to issue RMB 500 mln MTN

Sep. 18, 2012 (China Knowledge) - Guangdong Hydropower Group Co Ltd has announced it will issue RMB 500 million in medium-term notes with a maturity of five years in the interbank market on Sep 25.

The company said in a statement that the notes 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 26, and the to-be-issued notes tradable Sep 27.

RMB 200 million of the proceeds from the issue will be used to replenish the working capital, while the remaining RMB 300 million to repay bank loans, said the issuer.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA- and AA-, respectively.

China Everbright Bank Co Ltd<601818> has been hired as lead underwriter and bookrunner.

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