Nov. 19, 2012 (China Knowledge) - China Datang Corp, the second-largest electricity producer in China
, 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 Nov 20.
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 Nov 21, and the to-be-issued bills tradable Nov 22.
RMB 1 billion of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 3 billion to repay bank loans, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer AAA.
China Development Bank has been hired as lead underwriter and bookrunner. China Everbright Bank Co Ltd<601818> will be the joint lead underwriter for the offering.
This will be the company's third super short-term bills this year.