Tianneng Power Subsidiary Issues RMB1.00 Billion Two-Year Technology Innovation Bonds at 1.55% Coupon

Bulletin Express
Aug 28

Tianneng Power International Limited (Tianneng Power) announced that its wholly owned subsidiary, Tianneng Holding Group Co., Ltd., completed the registration of “Tranche 2 of 2026 Targeted Technology Innovation Bonds” on 28 August 2026. The issuance follows the successful placement of Tranche 1 in March 2026.

The new tranche totals RMB1.00 billion with a two-year tenor, carrying a 1.55% annual coupon. At the end of the first year, the issuer may adjust the coupon rate; investors will then have a five-day window to either resell bonds at par to the issuer—bringing forward maturity to 28 August 2027—or continue holding to the scheduled 28 August 2028 maturity.

The bonds are rated AA+ by China Chengxin Securities Rating Co., Ltd. CITIC Securities acted as sole lead underwriter and bookrunner. Distribution targets qualified specialised institutional investors and selected specific institutions in China’s interbank bond market.

Net proceeds, after issuance expenses, will be applied to repay bank borrowings. Management states that the transaction diversifies the group’s funding channels, enhances its capital structure and supports ongoing operations and business development.

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