SHA:900937

Huadian Energy Issues 600 Million Yuan in Super Short-Term Bonds; Shares Down 6%

Huadian Energy (SHA:600726, SHA:900937) issued super short-term bonds amounting to 600 million yuan, the company's first tranche for the year, according to a Shanghai bourse filing on Wednesday.The bonds have a coupon rate of 1.53% and a term of 269 days.Bank of China (SHA:601988, HKG:3988) and China Merchants Bank (SHA:600036, HKG:3968) were the joint underwriters of the issuance.The proceeds will be used to pay the company's debt.The Chinese energy company's A shares slumped 6%, while B shares fell less than 2% during the midday trade.