Huaneng Power issues CNY 2bn in medium-term notes

Huaneng Power International (SSE:600011) has announced the successful issuance of its ninth tranche of medium-term notes for 2025. The issuance, totaling CNY 2 billion, carries an interest rate of 1.97% and has a maturity of 3+N years, with a par value of CNY 100 per note. Approved at the company's 2023 annual general meeting, the issuance falls under the mandate allowing the company to issue up to CNY 130 billion in onshore and offshore debt financing instruments. The proceeds from this issuance will be used to supplement Huaneng's working capital, optimize its debt structure, repay bank loans, and refinance maturing debt. The issuance was underwritten by a syndicate led by CITIC Securities, China Merchants Bank, CITIC Securities, and Great Wall Securities, and offered to investors via book-building. Detailed information can be found on the ChinaMoney.com.cn and SHClearing.com.cn websites.