By William Gullotti
Buffalo, N.Y., July 20 – China Datang Corp. Renewable Power Co., Ltd. issued RMB 1 billion of 2.93% mid-term notes with an initial term of two years, according to an announcement on Thursday.
As with prior issues, the notes were issued at par of RMB 100 in China’s inter-bank bond market through bookbuilding.
Shanghai Pudong Development Bank Co., Ltd. is the sole bookrunner and lead underwriter for the offering, with Citic Securities Co., Ltd. acting as joint lead underwriter.
Dubbed the second tranche of mid-term notes, the latest issuance marks the company’s fifth offering of 2023.
The notes, and the proceeds derived from the notes, are intended to replace existing interest-bearing debt.
The wind, solar and biomass power company is based in Beijing.
| Issuer: | China Datang Corp. Renewable Power Co., Ltd.
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| Amount: | RMB 1 billion
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| Issue: | Mid-term notes, 2023 2nd tranche
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| Tenor: | Two years (with option to renew)
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| Bookrunner: | Shanghai Pudong Development Bank Co., Ltd.
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| Underwriters: | Shanghai Pudong Development Bank Co., Ltd. (lead), Citic Securities Co., Ltd.
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| Coupon: | 2.93%
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| Price: | Par of RMB 100
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| Yield: | 2.93%
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| Issue date: | July 12
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| Settlement date: | July 14
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| Announcement date: | July 20
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