By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – China Huaneng Group Co., Ltd. subsidiary China Huaneng Group (Hong Kong) Treasury Management Holding Ltd. sold $1 billion of guaranteed perpetual securities in two parts, according to a notice of listing on the Stock Exchange of Hong Kong Ltd.
The securities are guaranteed by China Huaneng Group Co.
China Huaneng sold $500 million of securities at par with an initial distribution rate of 2.85%.
It sold $500 million of securities at par with an initial distribution rate of 3.08%.
Bank of China, JPMorgan and Mizuho Securities are joint global coordinators, as well as joint bookrunners and joint lead managers together with Citigroup, BOC International, CMB Wing Lung Bank Ltd., CCB International, Industrial Bank Co., Ltd. Hong Kong Branch and CMBC Capital.
Listing is expected on Dec. 10.
Based in Beijing, Huaneng develops, constructs and operates large power plants in China.
| Issuer: | China Huaneng Group (Hong Kong) Treasury Management Holding Ltd.
|
| Guarantor: | China Huaneng Group Co., Ltd.
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| Issue: | Perpetual securities
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| Amount: | $1 billion
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| Maturity: | Perpetual
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| Bookrunners: | Bank of China, JPMorgan and Mizuho Securities (joint global coordinators), Citigroup, BOC International, CMB Wing Lung Bank Ltd., CCB International, Industrial Bank Co., Ltd. Hong Kong Branch and CMBC Capital
|
| Listing date: | Dec. 10
|
|
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| 2.85% securities
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| Amount: | $500 million
|
| Distribution rate: | 2.85% initially
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| Price: | Par
|
|
|
| 3.08% securities
|
| Amount: | $500 million
|
| Distribution rate: | 3.08% initially
|
| Price: | Par
|
|
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