China Longyuan Power Group (SHE:001289, HKG:0916) completed the issuance of two tranches of mid-term bonds amounting to 3 billion yuan, according to a Monday filing on the Hong Kong Stock Exchange.
The type 1 mid-term bonds amounted to 2 billion yuan and have a three-year term and a 2.12% coupon rate. The type 2 mid-term bonds have a term of ten years and a 2.37% coupon rate.
Shanghai Pudong Development Bank (SHA:600000) was the lead underwriter for the bond offering.
The proceeds raised from the mid-term bonds will be used to replenish the Chinese power company's working capital and pay its debts.
China Longyuan Power's shares jumped less than 3% on the Hong Kong bourse and rose less than 2% on the Shenzhen bourse.
Price (HKD): $14.20, Change: $+0.25, Percent Change: +1.79%
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