China Power's Wu Ling Power issues RMB400m sci-tech note

China Power International Development Limited (HKEX:2380) announced that its 63%-owned subsidiary, Wu Ling Power, has issued its 2025-first-tranche Sci-Tech Note ("STN-2025-1st-tranche") on February 26, 2025. The principal amount of the note is RMB400 million, with a unit face value of RMB100 and a coupon rate of 1.90% per annum. The maturity period for the note is 240 days. The issuance is asset-backed by the intellectual property rights related to Wu Ling Power’s clean energy and maintenance technologies, with a required asset coverage ratio of at least 108%. China Chengxin International Credit Rating Co., Ltd. rated the creditworthiness of Wu Ling Power as AAA with a stable outlook. Proceeds will be used to repay the 2024-first-tranche of the Sci-Tech Note issued on September 3, 2024.