Summary by Moomoo AI
LONGYUAN POWER GROUP CO., LTD. (“LONGYUAN POWER”) ANNOUNCED ON 16 APRIL 2024 THAT IT HAS SUCCESSFULLY COMPLETED THE ISSUANCE OF ULTRA-SHORT-TERM FINANCING SECURITIES, RAISING A TOTAL OF RMB20 BILLION. The term of the financing is 86 days with a face value of RMB 100, the bill rate is set at 1.75%, and interest is calculated from the same day. The funds raised in this issue are underwritten by Bohai Bank Co., Ltd. The funds raised are primarily used to supplement the daily cash flow and repayment of interest-bearing liabilities of the Company and its subsidiaries. The announcement states that this issuance is in accordance with a debt financing instrument issuance plan approved by shareholders at the 2022 Annual General Meeting.