Huadian Fuxin completes CNY-1.5bn short-term debt issue

Oct 17, 2014 - Chinese firm Huadian Fuxin Energy Corp Ltd (HKG:0816) said on Friday it had raised CNY 1.5 billion (USD 245m/EUR 191m) in short-term financing instruments due on October 15, 2015.

Huadian Fuxin operates coal, wind, solar and hydropower plants. This represents the company’s second tranche of short-term debt for 2014, following another CNY-1.5-billion issue in May.

The notes have a 4.64% annual coupon. The short-term credit has an A-1 rating set by China Cheng Xin International Credit Rating Group. China Everbright Bank Co Ltd and China Merchants Bank Co Ltd co-managed the book building, which took place on October 14, 2014.

Huadian Fuxin said in late March it planned to issue debt financing instruments of no more than CNY 12 billion in total to ensure the company can meet its production and operation needs and also to help improve its debt structure.

(CNY 1.0 = USD 0.163/EUR 0.127)

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