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.
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.
Kong 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.