By William Gullotti
Buffalo, N.Y., April 30 – China Power International Development Ltd. (Golden Credit: AAA) has issued RMB 2 billion of 2.12% green three-year notes in the interbank bond market in the People’s Republic of China, according to an announcement on Tuesday.
The initial coupon may be subject to adjustment at the end of the second year of the life of the notes, increasing the coupon rate by 10 basis points if the emissions reduction verification report is not disclosed on or before March 15, 2026.
Guotai Junan Securities Co., Ltd., Industrial and Commercial Bank of China Ltd. and Bank of China Ltd. are the joint underwriters.
Proceeds will be used to repay offshore bank borrowings.
Hong Kong-based China Power International’s principal business is to develop, construct, own, operate and manage large power plants in mainland China.
| Issuer: | China Power International Development Ltd.
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| Amount: | RMB 2 billion
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| Issue: | Green notes (DFISLN-2024-001)
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| Maturity: | Three years
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| Underwriters: | Guotai Junan Securities Co., Ltd., Industrial and Commercial Bank of China Ltd. and Bank of China Ltd.
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| Coupon: | 2.12%, subject to 10 bps increase at the end of the second year if the emissions reduction verification report is not disclosed on or before March 15, 2026
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| Issue date: | April 25
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| Issuer rating: | Golden Credit: AAA
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