By Marisa Wong
Morgantown, W.Va., Oct. 19 – Huaneng Power International, Inc. said it recently issued RMB 3 billion of short-term debentures. The one-year debentures carry a coupon of 2.6%.
Bank of China Ltd. acted as the lead underwriter.
This is the company’s second tranche of short-term notes for 2016. The company previously announced plans to issue up to RMB 15 billion of short-term debentures in one or multiple tranches within 24 months of a 2014 shareholder meeting held on June 25, 2015.
Proceeds will be used to repay bank loans.
Based in Beijing, Huaneng develops, constructs and operates large power plants in China.
| Issuer: | Huaneng Power International, Inc.
|
| Issue: | Short-term debentures, 2016 second tranche
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| Amount: | RMB 3 billion
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| Maturity: | 365 days
|
| Lead underwriter: | Bank of China Ltd.
|
| Coupon: | 2.6%
|
| Announcement date: | Oct. 19
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