China Three Gorges sets talk for 10-year dollar notes, seven-year euro-denominated notes

By Christine Van Dusen

Atlanta, June 3 – China Three Gorges Corp. set talk for an offering of 10-year dollar-denominated notes and seven-year euro-denominated notes (expected ratings: Aa3//A+), a market source said.

The 10-year notes were talked at a spread of Treasuries plus 165 basis points, and the seven-year notes were talked at a spread of mid-swaps plus 110 bps.

JPMorgan, Deutsche Bank, ICBC, Goldman Sachs, Bank of China, Societe Generale CIB, CCB International and Citic CLSA Securities are the bookrunners for the deal.

Guotai Junan International, Haitong International and Santander Global Banking and Markets are the co-managers.

Three Gorges is a state-owned power company based in Beijing.

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