Huaneng Power International, Inc. (SHA:600011, HKG:0902) announced that it has completed the issue of the first tranche of the company’s super short-term debentures for 2012 on 6 June 2012. The total issuing amount was RMB5 billion with a maturity period of 270 days whereas the unit face value is RMB100 and the interest rate is 3.35%.

China Construction Bank Corporation (SHA:601939, HKG:0939) and Bank of Communications Co., Ltd. (SHA:6001328, HKG:3328) act as the joint lead underwriters to form the underwriting syndicate for the debentures, which will be placed through book-building and issued in the domestic bond market among banks.

The proceeds from the debentures will be used principally to settle part of the bank loans so as to improve its debt structure and to supplement short term operational working capital.

Source:chinesestock.org