HONG KONG (Yosefardi) – Huaneng Power International Inc has issued RMB5 billion of three-years financial instruments at interest rate of 4.82%.
The issue is part of RMB15 billion of private placement of financial instruments approved by shareholders on June 12, 2012.
China Construction Bank Ltd was lead underwriter, while Haitong Securities was co-lead underwriter of the issuance.
“Proceeds will be used to strengthen working capital so as to support the accelerated development of the company, lower finance costs, and further adjust the debt structure,” Huaneng said Wednesday.