China Electric Power (02380.HK) announced that on November 26th this year, the company completed the establishment of China Power Energy Infrastructure Investment and Anhui Asset support Special Program (similar REITS), with CITIC Construction Investment acting as the manager and exclusive lead underwriter of the special plan. This product is not only the first thermal power infrastructure REITs in China, but also the first equity financing infrastructure REITs in Shanghai Stock Exchange.

The company transfers 100% equity in Wuhu Power Generation, a wholly-owned subsidiary, to a special purpose vehicle established for the issuance of asset-backed securities. The CITIC CIC representative holds 80 per cent of the interest in the special purpose vehicle and the remaining 20 per cent is held by the company. Citic CCIC will issue a total of RMB 2.576 billion (the same below) of asset-backed securities to eligible investors in the form of REITS-like products. Asset-backed securities are divided into three categories, including priority Class A principal amount of 2.15 billion yuan, coupon rate of 3.9%, priority Class B principal amount of 425 million yuan, coupon rate of 4.3%.

The proceeds from the issuance of asset-backed securities are intended to include, but are not limited to, the Group's supplementary working capital, debt repayment and business development.