Huaneng Power International issues ¥15 bn in bonds for business expansion

Huaneng Power International Co., Ltd. has completed the issuance of its 2025 corporate bonds (fourth tranche). The company had previously obtained approval from the Shanghai Stock Exchange and registration consent from the China Securities Regulatory Commission for a public offering of corporate bonds with a face value not exceeding ¥400 bn.

The current bonds were intended to raise up to ¥15 bn, structured into two tranches. Tranche one, with a base term of 5 years and renewable every 5 interest-bearing periods, successfully raised ¥15 bn at an interest rate of 2.33%. Tranche two, which had a base term of 10 years and renewable every 10 interest-bearing periods, was canceled. The company retains the option to extend the term or fully redeem the bonds at the end of each period.

The net proceeds from this bond issuance, after deducting relevant expenses, will be allocated towards productive expenditures, including the repayment of interest-bearing debt, supplementing working capital, and funding project investments and operations, all in accordance with legal and regulatory requirements. Further details regarding this bond issuance are available on the Shanghai Stock Exchange website.