China Datang Corp, the second-largest electricity producer in China, has announced that it plans to issue RMB 5 billion in super short-term bills with a maturity of 270 days on the interbank market today.
According to a statement, the power 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 Sep. 7 and the to-be-issued bills tradable Sep. 10. Dagong Global Credit Rating Co Ltd has rated the issuer AAA.
Industrial and Commercial Bank of China<601398><1398> and Shanghai Pudong Development Bank<600000> have been hired as joint lead underwriters for the offering. This will be the second super short-term bills issued by the company this year