Huaneng Power International Inc (00902) has announced its intention to issue technology innovation corporate bonds for professional investors, with the first tranche capped at RMB 1.5 billion.
The bond issuance, part of the company's 2026 program, will be structured in two tranches: the first with a 10-year maturity and the second with a 15-year maturity. The coupon rate for the 10-year tranche is set within a range of 1.60% to 2.60%, while the 15-year tranche offers a rate between 1.70% and 2.70%.
Proceeds from the bond sale, after deducting issuance expenses, are designated for production-related purposes, including repaying interest-bearing debt, supplementing working capital, and funding project investments and operations, all in compliance with applicable legal and regulatory requirements.