Shares of DATANG RENEW, a leading renewable energy company in China, surged 5.73% on Tuesday morning following news of the company's successful bond issuance.
According to a regulatory filing, DATANG RENEW completed the issue of 1 billion yuan ($140 million) in renewable corporate bonds on Tuesday. The bonds carry an interest rate of 2.3% and have a maturity of three years.
The fresh capital raised from the bond issue will be used to repay debt, replenish working capital, and fund ongoing projects and operations. Analysts view this move as a positive development for the company, providing it with additional financial flexibility to support its growth initiatives in the renewable energy sector.
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