By Susanna Moon
Chicago, Nov. 8 - Huaneng Power International, Inc. completed the first tranche of its non-public debt issuance this year with a RMB 5 billion 5.74% five-year note issue on Monday, according to a 6-K filing with the Securities and Exchange Commission.
China Construction Bank Ltd. is the lead underwriter.
Proceeds will be used to supplement operational working capital, to support the fast development of the company so as to lower its finance costs and to further adjust the debt structure for strengthening its competitiveness, according to a company press release.
Huaneng is a Beijing company that develops, constructs and operates large power plants in China.
| Issuer: | Huaneng Power International, Inc.
|
| Issue: | Notes
|
| Amount: | RMB 5 billion
|
| Maturity: | Five years
|
| Coupon: | 5.74%
|
| Underwriter: | China Construction Bank Ltd.
|
| Settlement date: | Nov. 7
|
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