Summary by Futu AI
China Power International Development Co., Ltd. (“China Power”) successfully issued a second issue of corporate bonds on the Shanghai Stock Exchange on April 19, 2024, raising RMB10 billion. The company's bond has a 3-year maturity, a box office rate of 2.39% per annum, and has a AAA credit rating, with a stable outlook. The issuance is not guaranteed and is jointly underwritten by Cathay Jun'an Securities, China Galaxy Securities and Zhongtai Securities. Proceeds from fundraising will be used to pay off maturing debt. The move is part of China Power's corporate bond program, with a total amount of not more than RMB30 billion approved by the China Securities and Exchange Commission, and follows on from the first issue of RMB20 billion in 2024. The Company's directors include Executive Directors Hai Gao Ping, Non-Executive Directors Zhou Jie and Huang Qinghua, as well as Independent Non-Executive Directors Li Fang, Qiu Jia-Ching and Xu Han Chung.