Huaneng Power International (SHA:600011) issued 3 billion yuan in science and technology innovation perpetual corporate bonds.
The issuance consists of a three-year tranche of 2.5 billion yuan with a 2.04% coupon rate and a 10-year tranche of 500 million yuan with a 2.48% coupon rate, according to a Thursday filing on the Shenzhen bourse.
Proceeds will be used for production expenditures, including debt repayment and project funding.
Shares of the power company were down 1% in recent trade.
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