CR Power issues bonds to fund projects
CR Power further established new funding channel and lowered its funding costs via successfully issuing offshore corporate bond. The corporate bonds are valued at RMB2.0 billion or US$188.79 million.
Proceeds will be used to invest in the development and expansion of power generation projects and supplement general working capital.
The Issuance is divided into two tranches: 3-year and 5-year, each with issue size of RMB 1.0 billion or US$94.3 million, and coupon rate fixed at 2.90 per cent and 3.75 per cent respectively.
Coupons are paid semi-annually in arrears with no amortization during the life of the bond.
After issuing onshore RMB corporate bond and US$ senior notes earlier this year, through successfully issuing offshore RMB corporate bond, CR Power further expanded its investors base, which is beneficial for its long-term development. Furthermore, the Issuance allows CR Power to lock in and lower long-term funding costs, hence mitigating the impact of any potential future interest rate hike.
ABB continues to strengthen the Symphony Plus platform with features and functionalities that meet the needs of a varied and changing power and water market.
The industry giant forays into the Mainland with the introduction of the turbocharged 6-cylinder 4006-23TRS gas engine.
Last December Alstom Grid announced it had acquired Canadian Smart Grid technology company ASAT Solutions - a strategic move to offer integrated substation data management solutions for utilities and industrial customers worldwide.
Modularity of hardware and software to meet the changing and individual requirements of modern grids during the whole life cycle
Following a trial phase with various grid operators, Siemens Smart Grid has brought the new protection device series Siprotec 5 onto the market.
.jpg)
