Grid giant to issue 5b-yuan bonds
( 2004-01-01 09:15) (Xinhua)
The State Grid Corporation, the largest
state-owned power grid operator, is to be the first Chinese electricity firm to
issue bonds in a bid to raise five billion yuan (about 600 million US dollars)
to fund the construction of projects nationwide.
The book entry bonds, consisting of three billion-yuan fixed rate bonds and
two billion-yuan floating rate bonds, will be issued publicly from Dec. 31, 2003
to Jan. 14 next year.
Interest will be paid every year according to a fixed coupon of 4.61 percent
and a floating rate of 1.75 percent higher than the one-year term deposit rate
for the same period.
|
