Sichuan Hydropower Investment & Management to issue bills
Published: 22 Oct 2009 16:45:52 PST
Oct. 23, 2009 (China Knowledge) - Sichuan Hydropower Investment & Management Group Ltd announced that it will issue 365-day financing bills on the interbank market on Oct. 29, sources reported. The company hopes to raise up to RMB 600 million through the issuance. The financing bills will be issued at face value and the yield will be determined in the process of book building. The proceeds from the issuance will be mainly used to replenish working capital and repay bank loans, according to the statement. Dagong Global Credit Rating Co has rated the issuer and the bills A-1 and AA-, respectively. China Everbright Bank has been assigned as the major underwriter for the sale. Sichuan Hydropower Investment & Management, with a registered capital of RMB 2.44 billion, is a state-owned power enterprise in Sichuan Province.
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