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Huadian Energy to issue RMB 1.3 bln bills

Sep. 19, 2012 (China Knowledge) - Huadian Energy Co Ltd<600726><900937> has announced it will issue RMB 1.3 billion in short-term bills with a maturity of 365 days in the interbank market on Sep 25.

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

RMB 400 million of the proceeds from the issue will be used to replenish the working capital, while the remaining of RMB 900 million to repay bank loans, said the issuer.

Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively.

Industrial Bank Co Ltd<601166>has been hired as lead underwriter and bookrunner. China CITIC Bank Corp<601998><0998> will be joint lead underwriter for the offering.

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