Shanghai Electric Power (SHA:600021) issued ultra-short-term bonds worth 2.10 billion yuan, according to a Friday disclosure on the Shanghai bourse.
The fixed-rate bonds, the company's second tranche for the year, have a coupon rate of 1.68% and a term of 114 days, maturing May 15.
Bank of Ningbo (SHE:002142) is the underwriter of the issuance.
The proceeds of the bonds will be used to repay maturing bonds.
The power company's shares rose over 1% during the morning trade.
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