Huaneng Power issues CNY 3bn in short-term bonds

Huaneng Power International (HPI) recently finalized the issuance of its fifth ultra-short-term financing bonds for 2025, with a total issuance value of CNY 3 billion. These bonds have a term of 99 days and a face value of CNY 100 each, carrying an interest rate of 1.42%. The issuance was led by a syndicate of underwriters including Bohai Bank and China Minsheng Bank, conducted through book-building and centralized placement on the national interbank bond market. According to the company's statement, the proceeds from this issuance will be allocated towards supplementing the company's working capital, adjusting its debt structure, and repaying existing bank loans and maturing debts. HPI's shareholders approved the issuance of debt financing instruments up to CNY 170 billion equivalent at the 2024 annual general meeting.