China Knowledge reported that China Three Gorges Corp, a state owned company established by the State Council to build the Three Gorges Project and develop the Yangtze River to issue CNY 8 billion worth of notes with a maturity of three years on the interbank market on October 20.

Coupon rate will be determined in the process of book building. Both value date and payment due date at October 21 and the to be issued notes tradable on October 22.

The issuer said proceeds from the issue will be used to replenish working capital and develop hydropower projects in the downstream of Jinsha River.

China Chengxin International Rating Co Ltd has rated the issuer and notes AAA and AAA respectively. CITIC Securities Co the largest listed brokerage in China has been assigned as the lead underwriter. China Merchants Bank will be the joint lead underwriter.

(Sourced from China Knowledge)