Huadian Power International Issues 1 Billion Yuan in Medium-Term Bonds

Huadian Power International (SHA:600027, HKG:1071) issued medium-term bonds worth 1 billion yuan, according to a Thursday disclosure on the Shanghai bourse.

The bonds have a coupon rate of 1.74% and a term of five years.

China Merchants Bank (SHA:600036, HKG:3968) and Bank of China (SHA:601988, HKG:3988) acted as lead underwriters for the issuance.

Proceeds will be used to pay debt and supplement the power company's working capital.

The company's Shanghai shares jumped 3% and Hong Kong shares rose 2% during the morning trade.

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Huadian Power International Issues 1 Billion Yuan in Medium-Term Bonds

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