Huaneng Power International, Inc. has completed the placement of its fifth tranche of 2026 mid-term notes, designated as “Special Debenture for Energy Supply Assurance,” in the domestic interbank bond market. The notes raised RMB2.00 billion, carry a coupon rate of 1.67%, and feature a 2+N-year tenor structure.

The transaction falls within the mandate approved at the company’s 2025 annual general meeting, which authorises the issuance—on a rolling basis—of domestic and/or overseas debt instruments with an outstanding balance of up to RMB170.00 billion through to the close of the 2026 annual general meeting.

CITIC Securities Company Limited, China Merchants Securities Co., Ltd. and Guotai Haitong Securities Co., Ltd. led the underwriting syndicate, distributing the notes via book-building. Proceeds will be applied, on a look-through basis, to repay previously issued special debentures aimed at energy supply assurance.

Regulatory documentation for the issuance is available on the China Money and Shanghai Clearing House websites.