By Marisa Wong
Madison, Wis., July 14 – CGN Power Co., Ltd. announced it issued RMB 1 billion of 366-day debentures.
The debentures carry a coupon equal to the benchmark half-year deposit rate plus 140 basis points.
Bank of China Ltd. is the bookrunner and arranger.
This is CGN Power’s first tranche of short-term debentures for 2015. The company had registered to issue PHP 5 billion of short-term debentures in May.
Proceeds will be used to replenish the company’s working capital.
The nuclear power producer is based in Shenzhen, China.
Issuer: | CGN Power Co., Ltd.
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Issue: | Short-term debentures
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Amount: | RMB 1 billion
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Maturity: | 366 days
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Bookrunner: | Bank of China Ltd.
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Coupon: | Benchmark half-year deposit rate plus 140 bps
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Announcement date: | July 14
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