Datang International Power Generation has agreed to sell a private placement of shares to China Datang Corporation to raise CNY9.95bn ($1.43bn) in gross proceeds.
China Datang Corporation will be issued 2,794,943,820 A-share subscription shares priced at CNY3.56 ($0.51) each.
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Datang International Power Generation intends to invest the proceeds to expand its power plants.
In a separate deal, Datang International Power Generation will also issue 2,794,943,820 H-share subscription shares to China Datang Corporation’s subsidiary, China Datang Overseas (Hong Kong) in a private placement. This issue is priced at HK$2.12 ($0.27) a share and will raise gross proceeds of HK$5.92bn ($763.89m approximately), which will be used for general corporate purposes.
New York State Electric & Gas has raised $500m through the private placement of 3.5% notes to qualified institutional investors.
The proceeds from the notes, due 1 December 2026, will be utilised to refinance the utility’s 5.65% notes due 15 December 2016 and pay down notes payables to affiliates, while part of the funds will also be used to redeem $96.85m of principal obligation on auction rate pollution control and for general corporate purposes.
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By GlobalDataKong Sun Holdings has announced its intention to buy 40MW of solar photovoltaic power station assets and debts from Changlin Company’s subsidiary.
The deal is valued at CNY802.5m ($116.32m).
Emera has announced that it will raise C$300m ($221.77m), which is planned to be utilised for general corporate purposes.
The public offering is for 6,630,000 common shares priced at C$45.25 ($33.45) each, while underwriters have a 30-day over-allotment option for buying an additional 994,500 common shares following the closure date, 16 December 2016.
