China's Datang Power says approved to issue bonds

SHANGHAI, Aug 18 (Reuters) - Datang International Power Co (601991.SS)(0991.HK), China's second-largest listed electricity provider, said on Monday it had won regulatory approval to issue corporate bonds worth 3 billion yuan ($437 billion).

Datang plans to issue 6 billion yuan in bonds in batches on the domestic market and the China Securities Regulatory Commission has approved the first batch of issue worth 3 billion yuan, it said in a statement in the Shanghai Securities News.

Datang said last month it would issue 10 or 15-year corporate bonds to pay back bank loans and supplement working capital. The bonds would be floated within six months after regulatory approval and would be listed on the Shanghai Stock Exchange. ($1=6.87 Yuan) (Reporting by Lu Jianxin; Editing by Louise Heavens)