China Knowledge reported that Guangdong Datang International Chaozhou Power Generation Co Ltd owned by China Datang Corp the second largest electricity producer in the country plans to issue CNY 400 million worth of 366-day unsecured bills on the interbank market on November 11.

Coupon rate will be determined in the process of book-building. Both value date and payment due date is November 14 and the to-be-issued bills tradable on November 15.

The issuer said proceeds from the issue will be used to repay bank loans and replenish working capital. Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills AA and A-1 respectively.

China Construction Bank Corp has been assigned as the lead underwriter. This will be the issuer's first short-term bill this year.

(Sourced from China Knowledge)