By Jennifer Chiou
New York, March 27 - Huadian Power International Co. Ltd. said it issued 1.5 billion yuan of five-year bonds.
The bonds priced at par and accrue interest at 3.96% per year.
This issue is the second tranche of the company's medium-term notes in 2009.
China International Capital Corp. and China Merchants Bank Co., Ltd. were the joint lead underwriters.
Proceeds from the sale will be used to replace bank loans, to facilitate the company's financing structure and to reduce its financing costs.
On Dec. 29, the company's board approved the issue of up to 3 billion yuan of bonds.
Huadian is a Beijing-based state-owned power company.
| Issuer: | Huadian Power International Co. Ltd.
|
| Issue: | Bonds
|
| Amount: | 1.5 billion yuan
|
| Maturity: | Five years
|
| Coupon: | 3.96%
|
| Price: | Par
|
| Yield: | 3.96%
|
| Underwriters: | China International Capital Corp. and China Merchants Bank Co., Ltd.
|
| Settlement date: | March 25
|
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