Dec. 6, 2012 (China Knowledge) - Huadian Power International Corp<600027
>, China's largest independent power producer, has said it will issue RMB 1.5 billion in unsecured bills with a maturity of 365 days on the interbank market on Dec. 13.
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. 14, and the to-be-issued bills tradable Dec. 17.
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 and bills AAA and A-1, respectively.
Agricultural Bank of China Ltd<601288
> has been assigned as lead underwriter and bookrunner for the offering.
This will be the issuer's third short term bills this year.