By Mary-Katherine Stinson
Lexington, Ky., Sept. 1 – China Power International Development Ltd. issued RMB 2 billion of 2.71% three-year notes (Golden Credit: AAA) in the interbank bond market in China, according to an announcement Thursday.
Industrial and Commercial Bank of China Ltd. and Postal Savings Bank of China Co., Ltd. were the joint lead underwriters for the fourth tranche of medium-term notes this year from the issuer.
As with the first three tranches of medium-term notes issued June 14, June 20 and July 20, proceeds will be used to repay existing borrowings.
From its headquarters in Hong Kong, the company develops, constructs, owns, operates and manages large power plants in mainland China.
| Issuer: | China Power International Development Ltd.
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| Amount: | RMB 2 billion
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| Issue: | Notes
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| Term: | Three years
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| Underwriters: | Industrial and Commercial Bank of China Ltd. and Postal Savings Bank of China Co., Ltd.
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| Coupon: | 2.71%
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| Issue date: | Sept. 1
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| Rating: | Golden Credit: AAA
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| Distribution: | China
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