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Sinohydro Group to issue RMB 1 billion bills

Sep. 19, 2012 (China Knowledge) - Sinohydro Group Ltd<601669>, a Chinese dam builder, has announced it will issue RMB 1 billion in short-term bills with a maturity of 365 days in the interbank market on Sep 24.

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 25, and the to-be-issued bills tradable Sep 26.

All of the proceeds from the issue will be used to replenish the working capital, said the issuer.

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

Agricultural Bank of China Ltd<601288><1288> has been hired as lead underwriter and bookrunner for the offering.

This will be the issuer's fifth short-term bills this year.







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