Huaneng Power issues 15bn RMB in medium-term notes

Huaneng Power International (SSE:600011) has announced the successful issuance of its fourth tranche of medium-term notes for 2025. Approved during the 2023 annual general meeting, the issuance, valued at 15 billion RMB, has a maturity of 3+N years, with a par value of 100 RMB per note, and carries an interest rate of 2.28%. The issuance was led by a syndicate of underwriters including China Merchants Bank, China Securities, China Investment Securities, and Great Wall Securities. Funds raised will be used to supplement the company’s working capital, optimize debt structure, repay bank loans, and refinance maturing bonds. Documentation related to the bond issuance has been published on the ChinaMoney and Shanghai Clearing House websites.