Huaneng Hydropower issues green notes, refinances debt

Huaneng Lancang River Hydropower (SSE:600025) has completed the issuance of its first green medium-term notes for 2025, totaling RMB 1.3 billion with a three-year term and an interest rate of 2.08%. Concurrently, the company also issued ultra-short-term financing bonds amounting to RMB 700 million, with a 71-day term and a 2.07% interest rate. These issuances are part of a broader plan approved at the 2023 annual shareholders' meeting, allowing the company to issue up to RMB 34 billion in debt financing instruments. The raised capital will be used to repay interest-bearing liabilities, optimizing the company's financial structure. Following these issuances, Huaneng Hydropower's outstanding balance for short-term financing bonds (including ultra-short-term bonds) stands at RMB 700 million, while medium-term notes (including perpetual notes) total RMB 17.3 billion. The green medium-term notes were led by the Agricultural Bank of China and co-led by the Bank of China, offered publicly on the interbank bond market.