By Marisa Wong
Madison, Wis., April 28 - Huaneng Power International, Inc. said it issued RMB 5 billion of short-term debentures on Monday. The 365-day debentures have a coupon of 4.9%.
China Construction Bank Corp. was the lead underwriter.
This is the company's first tranche of short-term notes for 2014.
The company previously proposed to issue up to RMB 15 billion of short-term debentures. Shareholders approved the debentures at a general meeting held on June 19, 2013.
Proceeds from the latest tranche will be used to settle portions of bank loans, to improve the company's debt structure and to 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: | Short-term debentures
|
| Amount: | RMB 5 billion
|
| Maturity: | 365 days
|
| Coupon: | 4.9%
|
| Lead underwriter: | China Construction Bank Corp.
|
| Settlement date: | April 28
|
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