Dec. 18, 2012 (China Knowledge) - China Guodian Corp, the parent company of GD Power Development Co<600795>, has said it will issue RMB 3.6 billion in unsecured bills with a maturity of 365 days on the interbank market on Dec 25.
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 26, and the to-be-issued bills tradable Dec 27.
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.
Bank of Shanghai and China Zheshang Bank have been hired as joint lead underwriters for the offering.
This will be the fifth short-term bills issued by the company this year.