The state giant said it would issue CNY 2bn ($326.5m) of unsecured bills maturing in 270 days from 20 November.

It said in a statement that the interest rate will be determined during bookbuilding.

China Lianhe Credit Rating has maintained the company at AAA, saying it has strong repayment ability and is not affected by external economic factors.

Shanghai Pudong Development Bank is the lead underwriter and bookrunner, with Bank of Communications the joint lead underwriter.

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