Huaneng power international issues first tranche of innovation bonds

Huaneng Power International has announced the successful completion of the first tranche of its 2025 technology innovation corporate bonds, targeting professional investors. The issuance, part of a larger approved program of up to 400 billion yuan, saw 2.5 billion yuan in actual funds raised.

The bonds were offered in two tranches, with the first (Tranche One) having a five-year term and an issuance rate of 1.98%. Tranche One was fully issued at 2.5 billion yuan, while Tranche Two, with a ten-year term, was not issued. The proceeds, after deducting issuance fees, are earmarked for productive expenditures including debt repayment, working capital, and project investments.

The issuance received approval from the Shanghai Stock Exchange and was registered with the China Securities Regulatory Commission (CSRC). Relevant documentation is available on the Shanghai Stock Exchange website.