Sep. 20, 2012 (China Knowledge) - China Guodian Corp, the parent company of GD Power Development Co<600795
>, has announced it will issue RMB 5 billion in unsecured super short-term bills with a maturity of 90 days in the interbank market on Sep 21.
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 the proceeds from the issue will be used to repay bank loans, said the issuer.
China Lianhe Credit Rating Co Ltd has rated the issuer AAA.
China Minsheng Banking Corp Ltd<600016
> and Bank of Beijing Co Ltd<601169
> will be the joint lead underwriter for the offering.
This will be the issuer's third super short-term bills this year.