State Power Investment to redeem $500 million perpetuals on May 21

By Mary-Katherine Stinson

Lexington, Ky., April 28 – SPIC 2018 USD Senior Perpetual Bond Co. Ltd. will redeem its $500 million senior guaranteed perpetual capital securities guaranteed by State Power Investment Corp. Ltd. on the first call date of May 21, according to a listing notice.

The securities will be redeemed at par plus any accrued distribution and including any arrears of distribution and any additional distribution amount.

Upon redemption, there will be no securities left in the issue and they will be delisted from the Stock Exchange of Hong Kong Ltd.

The issuer is a subsidiary of Beijing-based State Power Investment, which is an electricity generation company in mainland China.

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