China Longyuan placates minority investors with hybrid bond

The deal clears some of the overhang from a looming share placement, helping the windpower company's stock price to rise in response.

China Longyuan placates minority investors with hybrid bond

China Longyuan Power closed a $400 million senior hybrid on Friday evening the first hybrid from a mainland-incorporated company that is listed in Hong Kong.

The company is China’s biggest producer of wind power and a subsidiary of state-owned Guodian group, one of China’s five main power-generating companies.

China Longyuan develops wind farms and sells the electricity they generate to local grid companies. It has aggressive plans to expand its production capacity...

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