CHINA POWER INTERNATIONAL DEVELOPMENT LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
中 國 電 力 國 際 發 展 有 限 公 司
(incorporated in Hong Kong with limited liability)
(Stock Code: 2380)
The board of directors (the 'Board') of China Power International Development Limited (the 'Company') announces that Wu Ling Power Corporation* ('Wu Ling Power', a 63%-owned subsidiary of the Company) has obtained a 'Notification on Acceptance of Registration' from the National Association of Financial Market Institutional Investors (中國銀行間市場交易商協會) confirming acceptance of Wu
Ling Power's application for issue of short-term debentures in the People's Republic of China ('PRC') with an amount of RMB1 billion with an effective registration period of 2 years and to be issued in tranches within the effective period of the registration.
Wu Ling Power completed the issuance of the 2015-first-tranche of the short-term debentures (the '2015-first-tranche Debenture') on 10 November 2015. The issuance amount for the 2015-first-tranche Debenture was RMB300 million with a maturity period of 366 days at the unit face value of RMB100, and the interest rate at 3.79% per annum. China Everbright Bank Co., Ltd. and Bank of China Limited acted as the joint lead underwriters for the 2015-first-tranche Debenture by centralized placing through book-building and issued in the domestic bond market among banks in the PRC.
Pursuant to the 'Wu Ling Power Corporation Long-term Credit Rating Report' issued by China Lianhe Credit Rating Co., Ltd. dated 28 September 2015, the corporate long-term credit rating of Wu Ling Power is AA+, the rating outlook is stable, and the credit rating of the 2015-first-tranche Debenture is A-1. Proceeds from the 2015-first-tranche Debenture will be used by Wu Ling Power mainly for repayment of existing bank loans, lowering its interest costs and further enhancing its debt structure.
In connection with issuing the 2015-first-tranche Debenture, Wu Ling Power published an announcement in the PRC to provide investors with certain information concerning the terms and conditions of the debenture, credit rating reports and financial information including the unaudited accounts of Wu Ling Power for the period ended 30 September 2015. The relevant documents could be found on the websites at www.chinamoney.com.cn and www.shclearing.com.
Set forth below the key figures of Wu Ling Power's unaudited financial information:
For the first nine months of 2015 | |
(RMB'000) | |
(Unaudited) | |
Revenue and other income | 4,648,945 |
Net profit for the period | 1,113,282 |
As at 30 September 2015 | |
(RMB'000) | |
(Unaudited) | |
Total assets | 36,817,384 |
Total liabilities | 28,444,519 |
Shareholders' equity | 8,282,694 |
The above financial information is only based on the preliminary assessment by Wu Ling Power in accordance with the prevailing generally accepted accounting principles in the PRC, which has not been confirmed nor reviewed by the auditors of Wu Ling Power and the Company. The figures are limited solely to Wu Ling Power and do not represent or provide a full picture of the operation or status of the Group. Shareholders and potential investors should exercise caution when dealing in the shares of the Company and should not rely solely on such information.
* English or Chinese translation, as the case may be, is for identification only.
By order of the Board
China Power International Development Limited Yu Bing
Executive Director
Hong Kong, 12 November 2015
As at the date of this announcement, the directors of the Company are: executive directors Yu Bing and Wang Zichao, non-executive directors Wang Binghua and Guan Qihong, and independent non-executive directors Kwong Che Keung, Gordon, Li Fang and Tsui Yiu Wa, Alec.
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