By Marisa Wong
Madison, Wis., Nov. 19 – Huaneng Power International, Inc. said it recently issued RMB 5 billion of short-term debentures. The one-year debentures have a coupon of 3.98%.
Bank of China Ltd. acted as the lead underwriter.
This is the company’s second tranche of short-term notes for 2014. The company issued its first tranche totaling RMB 5 billion with a 4.9% coupon on April 28, 2014.
The company had 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: | 3.98%
|
Lead underwriter: | Bank of China Ltd.
|
Announcement date: | Nov. 19
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.