China's Datang to issue RM 1 billion of short-term debentures on Friday

By Reshmi Basu

New York, Sept. 13 - Datang International Power Generation Co. Ltd. said it plans to issue RM 1 billion of short-term debentures in the inter-bank market on Friday.

The issue will bear a tenor of 270 days or a maturity date of June 15, 2007. The settlement date will be Monday.

Proceeds from the sale will be used to restock short-term cash flow and for working capital.

China Minsheng Banking Corp. Ltd. will act as the lead underwriter for the issue. This will be the first tranche under the company's plan to issue a maximum of RM 4 billion in debentures.

Datang is a Chinese telecommunication equipment vendor and is the second-largest Hong Kong- listed electricity producer.

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