Herbert Smith Freehills has advised Huaneng Power International, Inc. (“Huaneng Power”), one of China’s largest listed power producers, on its RMB1.5 billion (US$241 million) Regulation S offering of three-year fixed rate bonds due 2016. The bonds will be listed and traded on the Hong Kong Stock Exchange.
Listed in New York, Hong Kong and Shanghai, Huaneng Power is mainly engaged in developing, constructing, operating and managing large-scale power plants throughout China.
The Herbert Smith Freehills team was led by corporate partner Tom Chau, who was assisted by senior associate Sherry Lai and associate Isaac Chen. The US securities team was led by partner Kevin Roy, who was supported by associates Jackie Chen and Stanley Xie.
China International Capital Corporation Hong Kong Securities Limited, ICBC International Securities Limited and Merrill Lynch International were the joint lead managers for the offering.
Herbert Smith Freehills have worked for the Huaneng Group since the late 1990s. Previously, we also advised Huaneng Power in relation to its non-public issue of RMB8.556 billion A-shares (US$122 million) and HK$1.988 billion (US$28 million) H-shares in 2010.
