China Power in convertible bond offering

    June 02, 2011 | BY

    clpstaff &clp articles

    China Power International Development (China Power), a listed unit under state-owned enterprise China Power Investment Corporation (CPIC), has issued Rmb982…

    China Power International Development (China Power), a listed unit under state-owned enterprise China Power Investment Corporation (CPIC), has issued Rmb982 million (US$150 million) renminbi-denominated US dollar-settled convertible bonds. The bonds are convertible into shares in China Power, which are listed on the Hong Kong Stock Exchange.

    China Power intends to use the proceeds of the convertible bonds to fund future capital expenditures, repay existing debt and for general working capital.

    The joint bookrunners were Credit Suisse and the Royal Bank of Scotland.

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