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China's Huaneng Power gets OK for RMB 5 billion more instruments
By Marisa Wong
Madison, Wis., April 25 - Huaneng Power International, Inc. said it received approval from China's Development and Reform Commission on April 19 to issue up to RMB 5 billion of debt instruments in Hong Kong.
The approval has an effective period of one year.
Huaneng Power recently issued RMB 5 billion of 4.41% notes. The 365-day notes settled on April 17. The 4.41% notes make up the company's first tranche of short-term notes for 2012.
As previously reported, the company received shareholder approval on May 17, 2011 to issue up to RMB 10 billion of short-term notes, up to RMB 5 billion of which is to be issued within 12 months of the approval date.
Based in Beijing, Huaneng develops, constructs and operates large power plants in China.
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