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HYDROCHINA Corp to issue RMB 2.5 bln MTN

Sep. 18, 2012 (China Knowledge) - HYDROCHINA Corp, formerly known as the Administration of Water Resources and Hydropower Planning and Design, has announced it will issue RMB 2.5 billion 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 27, and the to-be-issued bills tradable Sep 28.

RMB 1.63 billion of the proceeds from the issue will be used to replenish the working capital, while the rest RMB 870 million to repay bank loans, said the issuer.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.

China Construction Bank Co Ltd<600036><3968> has been hired as lead underwriter and bookrunner, Industrial and Commercial Bank of China<601398><1398> will be joint lead underwriter for the offering.







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