China Power International Development Limited (“China Power”) successfully issued RMB 20 billion green interim notes on the Chinese interbank market on April 25, 2024, marking the first issuance on the Chinese bond market of its bill of exchange rates with the issuer's National Certified Voluntary Emission Reduction (CCER) performance target Hooked commercial bills. The note has a 3-year term at a bill rate of 2.12% per annum and has a sustainable performance target, i.e. China's electricity needs to generate at least 100 million tons of CCER between 2024 and 2025. If this target is not met or the CCER validation report is not disclosed in a timely manner, the ticket rate will be increased by 10 basis points. The notes are co-underwritten by Cathay...Show More

China Power International Development Limited (“China Power”) successfully issued RMB 20 billion green interim notes on the Chinese interbank market on April 25, 2024, marking the first issuance on the Chinese bond market of its bill of exchange rates with the issuer's National Certified Voluntary Emission Reduction (CCER) performance target Hooked commercial bills. The note has a 3-year term at a bill rate of 2.12% per annum and has a sustainable performance target, i.e. China's electricity needs to generate at least 100 million tons of CCER between 2024 and 2025. If this target is not met or the CCER validation report is not disclosed in a timely manner, the ticket rate will be increased by 10 basis points. The notes are co-underwritten by Cathay Junan Securities, the Industrial and Commercial Bank of China and the Bank of China as co-underwriters and are rated AAA with a stable outlook. Proceeds from the fundraising will be used to repay overseas Chinese bank loans. China Electric also disclosed the details of the bill and financial information on the relevant website in China.