By Marisa Wong
Los Angeles, April 15 – Huaneng Power International, Inc. recently completed an issuance of RMB 2.5 billion of 2.2% three-year carbon neutral bonds, placed through a book building and issued in China’s domestic bond market among banks, according to a company announcement.
This is the company’s first tranche of green mid-term notes for 2024.
Industrial and Commercial Bank of China Ltd., Bank of China Ltd., China Everbright Ltd., China Development Bank and China Great Wall Securities Co. Ltd. acted as the lead underwriters.
Proceeds from the new debentures will be used to repay the company’s second tranche of green mid-term notes (carbon neutral bonds) for 2021, proceeds of which were ultimately used to invest in wind power clean energy projects.
The Beijing-based company develops, constructs and operates power plants in China.
| Issuer: | Huaneng Power International, Inc.
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| Amount: | RMB 2.5 billion
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| Issue: | Green mid-term notes (carbon neutral bonds), 2024 first tranche
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| Tenor: | Three years
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| Bookrunners: | Industrial and Commercial Bank of China Ltd., Bank of China Ltd., China Everbright Ltd., China Development Bank and China Great Wall Securities Co. Ltd.
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| Coupon: | 2.2%
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| Announcement date: | April 15
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