Huaneng Power International Raises USD737 Million in First Tranche of Public Offering of 4.69% Notes Due 2022

Published: Jul 14 2017
Deal Summary

Huaneng Power International, Inc., a power generation and distribution company and a subsidiary of Huaneng International Power Development Corporation, has completed the first tranche of the public offering of 4.69% mid-term notes due July 2022, for gross proceeds of CNY5,000 million (USD737.1 million). The unit face value is CNY100 (USD14.74). The notes were placed through book-building and issued in the domestic interbank market.

The Bank of China Limited and the Agricultural Bank of China Limited acted as the lead underwriters to the company for the offering.

The company intends to use the proceeds from the offering to supplement the working capital of the headquarters and adjust debts structure.

Deal History:

Planned: On June 13, 2017, Huaneng Power International received shareholders approval to issue domestic and/or overseas debt financing instruments, for aggregate gross proceeds of up to CNY29,300 million (USD4,319.4 million). The financing instruments may be issued within or outside the People's Republic of China (PRC) within 24 months from the date of the shareholders’ approval.

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