Huaneng Power International, Inc. (00902) was granted a mandate at its 2024 annual general meeting to issue debt financing instruments with a total outstanding principal not exceeding RMB170.00 billion. This mandate is effective from the date of approval at the 2024 annual general meeting until the conclusion of the 2025 annual general meeting.
The company recently completed the issuance of its third tranche of super short-term commercial papers for 2026, amounting to RMB3.00 billion. The papers carry an interest rate of 1.49% and a maturity period of 51 days. China Merchants Bank Co., Ltd. and China Minsheng Banking Corp., Ltd. served as the joint lead underwriters, placing the notes in the domestic bond market among banks.
Proceeds from this issuance will be used to supplement working capital, optimize debt structure, and repay bank loans and debt due.