China Three Gorges Project Corp, parent of China Yangtze Power Co Ltd, plans to issue 2.5 billion yuan worth of 10-year, fixed-rate bonds to domestic institutional investors from today to July 2, according to a statement published on the official China Securities Journal.

The company said the coupon has been set at 4.98 percent.

Proceeds will be used to fund the Phase III construction of Three Gorges and two hydropower generation projects on the Jinsha River, the company said.

China CITIC Securities is the main underwriter of the issue.