China power producer issues energy supply bonds

BEIJING - A Chinese power producer issued 30 billion yuan ($4.34 billion) of special bonds recently in the first such issuance supported by the government to ensure electricity supply.

The issuance by China Reform Holdings Corporation Ltd. has a maturity of five years with a coupon rate of 2.65 percent, according to the National Association of Financial Market Institutional Investors.

At an executive meeting on Aug 24, the State Council said measures would be taken to support electricity producers under central administration in issuing 200 billion yuan of special bonds for energy supply.

The country's southwestern regions had suffered from severe power shortages amid persistent heatwaves this summer. Regular power supply in these areas resumed after temperatures dropped.

Another energy company, China Datang Corporation Ltd on Tuesday also published its plans for a special bond issuance.