CLP bond

China Light and Power seeks banks for benchmark bond

China Light and Power is expected to shortlist banks for its upcoming dollar benchmark by next week.

Hong Kong blue-chip electricity company China Light and Power sent out a request for proposals to banks for a benchmark bond during the weekend, according to a source. Submissions are due this week and a shortlist should be out by next week, with the beauty parade expected next week as well.

As China Light and Power is an investment-grade name, the fees are expected to be thin a $300 million 10-year bond issued in July 2011 by its holding company, CLP Power, was said to pay around 15bp to 25bp. Deutsche Bank, HSBC, Royal Bank of Scotland and Standard Chartered were the arrangers. CLP Power’s bond, which was...

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