Recently, Datang International Power Generation Co., Ltd (stock code: 601991) successfully issued the first issue of Special Bonds for Energy Supply Guarantee in China Association of Inter-bank Market Dealers (CAIMD), with an issue size of RMB 2 billion and a maturity period of 5 + N. The issue is expected to be finalized by the end of this year.
King&Capital Law Firm, as a member of China Association of Interbank Market Dealers and the legal advisor of Datang International Power Generation Company Limited, provided professional and efficient legal services for this issuance. During the issuance process, led by Mr. Liu Jingxia, senior partner and partner-in-charge of the Finance Department of the Firm, Mr. Fan Litao and Mr. Yu Yamin issued relevant legal opinions as the host lawyers, and partners Mr. Cheng Guang and Mr. Wang Ying, intern lawyers, provided comprehensive legal support for this purpose, which jointly guaranteed the efficient and smooth completion of the Firm's legal service work.
The special bonds for energy supply guarantee is a package of economic stabilization policy measures to implement the "support for central power generation enterprises and other enterprises to issue 200 billion yuan of special bonds for energy supply guarantee" deployed by the State Council executive meeting on August 24 this year, in order to cope with the impact of the fluctuating rise in the international energy prices and the structural contradiction in the domestic power market on the central power generation enterprises. Based on this, China Association of Inter-bank Market Dealers (CAIMD) has innovatively launched energy supply bonds, raising funds specifically for coal procurement and supplementary working capital of power generation enterprises, so as to enhance the ability of energy and electric power supply, and to consolidate the recovery and development of the economy.
Energy and power security supply is the basic guarantee of stable economic and social operation, energy supply special bonds as a stable economic successor policy important initiatives, the success of the issuance of great significance. After the deployment of the regular meeting of the National People's Congress on August 24, China Guoxin Holding Company Limited has successfully issued the first energy supply special bonds on September 5th. Datang Power's issuance followed closely behind, and the injection of "5+N" medium- and long-term funds will help the company further strengthen its medium- and long-term development foundation and effectively implement the task of energy supply guarantee.
