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China Power Inv’t to issue RMB 4 bln bills

Oct. 17, 2012 (China Knowledge) - China Power Investment Corporation, the parent company of Hong Kong-listed China Power International Development Ltd<2380>, has announced it plans to issue RMB 4 billion in super short-term bills with a maturity of 270 days in the interbank market on Oct 17.

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 Oct 19, and the to-be-issued bills tradable Oct 22.

All the proceeds from the issue will be used to repay bank loans, said the issuer.

China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.

China Everbright Bank Co Ltd<601818> has been hired as lead underwriter and bookrunner. China Merchants Bank Co Ltd<600036><3968> will be the joint lead underwriter for the offering.

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

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