China Yangtze Power Plans to Sell Up to 8 Billion Yuan of Bonds

China Yangtze Power Co., operator of the world's biggest hydropower project, plans to sell as much as 8 billion yuan ($1.05 billion) of domestic bonds to pay bank loans and buy generators.

Shareholders will vote on the plan to sell the bonds with maturities of five to 10 years on Sept. 7, the Beijing-based company said in a statement to Shanghai's stock exchange today.

China's government issued rules in June, giving the stock- market regulator the power to approve bond sales by publicly traded companies, as it seeks to expand the country's debt market.