OREANDA-NEWS. July 20, 2011. China Huaneng Group, China's top power producer and the parent of Huaneng Power International Inc<600011><0902>, will issue RMB 1.5 billion worth of five-year fixed-rate notes on the interbank market on Jul. 20.

 The yield will be determined in the process of book building.

 Value date and payment due date will be Jul. 21, and the to-be-issued notes will be tradable on Jul. 22.

 China Lianhe Credit Rating Co Ltd has rated the issuer and un-secured notes both  AAA, respectively.

 Bank of China<601988><3988>, the nation's largest foreign exchange lender, and China Minsheng Banking Corp Ltd<600016><1988>, have been assigned as the joint lead-under writer.

 Proceeds from the note issue will be used to replenish working capital and repay bank loans.

 On Jul. 12, China Huaneng Group completed issuing RMB 3 billion of medium-term notes with a coupon rate of 5.12%.