CGN Power issues RMB 2.4bn in medium-term notes

CGN Power Co., Ltd. (HKEX:1816) has completed the issuance of its first tranche of medium-term notes for the year 2025. The total issuing amount is RMB 2.4 billion, with a maturity period of three years. The notes have a par value of RMB 100 and an issue interest rate of 1.97%. Interest accrual commences on March 3, 2025, with a maturity date of March 3, 2028. Industrial and Commercial Bank of China Limited acted as the bookrunner. The proceeds will be used to repay maturing super short-term financing debentures of the Company and the borrowings of its subsidiaries. The notes were publicly issued in the PRC interbank debenture market.