Huaneng Lancang River Hydropower (SHA:600025) raised 3 billion yuan via the issue of two tranches of ultra-short-term commercial papers to repay interest-bearing liabilities.

The issue of 100-day papers carrying a coupon rate of 1.40% raised 2 billion yuan, while the issue of 109-day papers at 1.41% raised 1 billion yuan, according to a Wednesday filing with the Shanghai bourse.

Bank of China serves as lead underwriter, with Industrial and Commercial Bank of China and China Construction Bank as joint lead underwriters.

Shares of the hydropower company were up 1% in recent trade.