China Power Investment would auction 2.5 billion yuan perpetual notes on the interbank bond market on July 6.
The company said in a statement that the face value and coupon rate will be decided by the result of bookkeeping for the first five years. The issuer may choose to redeem the bonds after the fifth year.
If it doesn't exercise the right of redemption, there will be a new adjusted coupon rate. China Chengxin International Credit Rating granted AAA-credit ratings to both the issuer and the bonds.
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