Datang International issues CNY 2.4bn in medium-term notes

Datang International Power Generation (SSE:601991) announced the successful issuance of its third tranche of medium-term notes for 2025, totaling CNY 2.4 billion. The notes have a term of 5+N years and a par value of CNY 100, with a coupon rate of 2.14%. China Securities acts as the lead underwriter and bookrunner, while CITIC Securities, Guotai Haitong Securities, Everbright Securities, China International Capital Corporation, and Shenwan Hongyuan Securities serve as joint lead underwriters. The company intends to allocate the raised capital towards repaying outstanding interest-bearing debts and supplementing its working capital. This issuance aligns with the company's broader financing plans approved at the December 31, 2024 shareholder meeting, authorizing up to CNY 800 billion in debt and equity financing. The issuance is based on the registration acceptance notice received from the National Association of Financial Market Institutional Investors (NACFMII) in June 2023.