Huaneng Power (HUANENG POWER) (00902) has announced the recent completion of the issuance for its 2026 Science and Technology Innovation Renewable Corporate Bonds (Third Tranche) aimed at professional investors.

The total issuance size for this tranche was set at no more than 1.5 billion yuan, comprising two series. The first series has a base term of three years, with repricing cycles of three years each. The second series has a base term of five years, with repricing cycles of five years each.

The company holds the option at the end of each base term and subsequent renewal cycle to extend the bond for another full cycle or to fully redeem it at the cycle's conclusion.

For this issuance, Series One was fully subscribed, raising the full 1.5 billion yuan at a coupon rate of 1.77%. The issuance of Series Two was cancelled.

Proceeds from the bond issuance, after deducting related expenses, are earmarked for productive expenditures. These include repaying interest-bearing debt, supplementing working capital, funding project investments and operations, and other uses that comply with regulatory requirements.