China's National Association of Financial Market Institutional Investors accepted Zhongshan Public Utilities Group's (SHE:000685) application to issue short-term and medium-term bonds, according to a Tuesday disclosure on the Shenzhen bourse.

The short-term bonds amount to 2 billion yuan. China Merchants Bank (HKG:3968, SHA:600036) will serve as the lead underwriter.

The medium-term bonds are worth 3 billion yuan. China CITIC Bank (HKG:0998, SHA:601998) and China Merchants Bank will act as joint lead underwriters.

The registration of both bonds is valid for two years and can be issued in tranches within the validity period, the Chinese water services provider said.