China Guangdong Nuclear set to roadshow dim sum debut

HONG KONG Oct 18 (Reuters) - State-owned China Guangdong Nuclear Power Holding has mandated four investment banks to arrange investor meetings next week for an offshore yuan bond issue, sources with knowledge of the deal said on Thursday.

The company has mandated Bank of China International and China Development Bank as joint global co-ordinators, the sources said.

Bank of China International, Agricultural Bank of China International and Industrial and Commercial Bank of China (Asia) will work as joint bookrunners and joint lead managers.

"The roadshow will be held next Monday in Hong Kong and Tuesday in Singapore," said one of the two sources, adding the issue was expected to be rated A+/A3 (Fitch/Moody's).

China's National Development and Reform Commission granted a 25 billion yuan ($4 billion) quota to mainland corporates to issue yuan bonds offshore. So far only Baosteel Group has used up its 6.5 billion yuan quota.

The other four companies include Guangdong Nuclear Power Holding, Huaneng Power International, China Datang and China Minmetals.

Guangdong Nuclear Power Holding is a wholly state-owned enterprise.

Hong Kong's offshore yuan bond market has developed rapidly since the first dim sum bond was issued in July, 2007. Total issuance volume has reached 114.4 billion yuan ($18.3 billion) over year to date, according to Thomson Reuters statistics. ($1 = 6.2545 Chinese yuan) (Reporting by Michelle Chen; Editing by Eric Meijer)