By Marisa Wong
Morgantown, W.Va., April 20 – China Power International Development Ltd.’s subsidiary, Wu Ling Power Corp., issued RMB 200 million of short-term debentures on Tuesday, according to a company announcement.
The 365-day debentures have a coupon of 3.1%.
China Everbright Bank Co., Ltd. and Bank of China Ltd. acted as joint lead underwriters.
This is Wu Ling Power’s second tranche of short-term debentures for 2016.
Proceeds will be used to repay bank loans, lower interest costs and enhance the company’s debt structure.
China Lianhe Credit Rating Co., Ltd. assigned an A-1 rating to the second-tranche debentures.
Hong Kong-based China Power International’s principal business is to develop, construct, own, operate and manage large power plants in mainland China.
| Issuer: | Wu Ling Power Corp.
|
| Issue: | Short-term debentures, 2016 second tranche
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| Amount: | RMB 200 million
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| Maturity: | 365 days
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| Underwriters: | China Everbright Bank Co., Ltd., Bank of China Ltd.
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| Coupon: | 3.1%
|
| Settlement date: | April 19
|
| Rating: | China Lianhe: A-1
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