China Longyuan (HKG:0916) issues RMB1B debt instruments

   Date:2011-12-13     Source:xywlitingting

China Longyuan Power Group (00916.HK) announced that it completed the issuance of the first tranche of its private issuance of debt financing instruments on 9 December 2011. The total issuance amount of the debt financing instruments is RMB1 billion with a maturity period of 3 years. The unit face value is RMB100 and the issuing interest rate is 5.72%. The interest started to accrue on 9 December 2011.

Industrial Bank Co., Ltd. acts as the lead underwriter for the debt financing instruments for placing the same to designated investors.

The proceeds from the debt financing instruments will be used principally to supplement working capital, which will adjust the debt structure, lower the finance costs and strengthen the competitiveness of China Longyuan.

China Longyuan shall make further announcement in respect of the detailed arrangements of the remained RMB4 billion debt financing instruments as and when appropriate.



 

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