China's State Grid hopes to electrify in euros

The international arm of China's State Grid Corporation looks set to bring welcome diversification to the European utilities sector with its debut euro-denominated bond deal.

Roadshows begin on Monday for a debut euro-denominated offering by the international arm of China's State Grid Corporation.

The group is proposing to issue a senior unsecured transaction that will not only provide welcome diversification for the Euro-denominated utilities sector, but also rank as one of its highest rated deals, with a likely A1AA rating.

Deutsche Bank, HSBC and Morgan Stanley have been appointed as joint-global co-ordinators for what is shaping up to be a two-tranche deal according to the group's preliminary offering memorandum. Roadshows will continue in Frankfurt and Munich on January 13, followed by Amsterdam and Paris on...

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