HUADIAN POWER (01071) announced that the company has completed the issuance of its 11th medium-term notes for 2025. The notes, with a total value of RMB2 billion, carry a 3-year term and a coupon rate of 1.95%. Each note has a face value of RMB100.
The issuance was jointly underwritten by Industrial Bank Co., Ltd. and China Construction Bank Corporation through a book-building process in the national interbank bond market. Proceeds from the notes will be used to repay maturing debts, supplement working capital, and fund capital contributions to subsidiary companies.
This follows the approval granted at the 2024 annual shareholders' meeting, which authorized the company to issue various domestic and offshore financing instruments, including short-term commercial paper, super short-term commercial paper, medium-term notes, perpetual notes, and senior/perpetual USD bonds, with an aggregate principal amount not exceeding RMB80 billion equivalent during the period from the 2024 annual meeting until the conclusion of the 2025 annual meeting.
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