China Knowledge reported that China Huaneng Group, the country top power producer and the parent company of Huaneng Power International Inc plans to issue CNY 1.5 billion worth of unsecured medium term notes with a maturity of ten years on the interbank market on August 29.

The company said in a statement that the notes will be issued at face value and coupon rate determined in the process of book building. Both value and payment due date is on August 30 and the to be issued notes tradable August 31.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AAA and AAA respectively. China Everbright Bank Co Ltd has been hired as book runner and lead underwriter for the offering and Bank of Communications will be joint lead underwriter.

This will be the first medium-term notes issued by the group this year.

Source - China Knowledge

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