By Marisa Wong
Madison, Wis., April 18 - Huaneng Power International, Inc. said that it issued RMB 5 billion of 4.41% notes on Tuesday.
The notes have a maturity of 365 days.
China Construction Bank Corp. led the syndicate of underwriters for the notes, which will be placed through book-building and issued in the domestic bond market among banks.
The 4.41% notes make up the company's first tranche of short-term notes for 2012. The company received shareholder approval on May 17, 2011 to issue up to RMB 10 billion of short-term notes within 12 months.
Proceeds will be used to settle part of the company's bank loans in order to improve its debt structure and supplement short-term operational working capital.
Based in Beijing, Huaneng develops, constructs and operates large power plants in China.
| Issuer: | Huaneng Power International, Inc.
|
| Issue: | Notes
|
| Amount: | RMB 5 billion
|
| Maturity: | 365 days
|
| Coupon: | 4.41%
|
| Agent: | China Construction Bank Corp. (lead)
|
| Settlement date: | April 17
|
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