Nov. 30, 2012 (China Knowledge) - China Guodian Corp, the parent company of GD Power Development Co<600795
>, has said it will issue RMB 12.5 billion in unsecured bills with a maturity of 365 days on the interbank market on Dec. 7.
The company said 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 Dec. 10, and the to-be-issued bills tradable Dec. 11.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.
China Everbright Bank Co Ltd<601818> has been assigned as the lead underwriter and bookrunner. Agricultural Bank of China Ltd<601288
> will be the joint lead underwriter for the offering.
This will be the fourth short-term bills issued by the company this year.