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Article: YANGTZE POWER TO ISSUE CHINA'S FIRST CORPORATE BOND.
- Article from:
- AsiaPulse News
- Article date:
- September 20, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, Sept 20 Asia Pulse - Shanghai-listed China Yangtze Power Co Ltd (SSX:600900), which owns and operates the 160-billion-yuan (US$21 billion) Three Gorges Dam Project power plant, will issue the nation's first corporate bond as early as tomorrow, the China Securities News reported today.
The power giant will sell four billion yuan (US$532 million) 10-year bonds with a fixed interest rate, a source said.
Ten per cent of the corporate bond, or 400 million yuan, will target personal investors, the source said.
China Construction Bank (SEHK:0939) is offering an unlimited and irrevocable guarantee for the issuance.
Yangtze Power said ...