(ATF) – Guangdong Electric Power has been given approval to sell “green renewable” corporate bonds, state media reported.
The National Development and Reform Commission gave the sale the green light and it was agreed that the company should issue no more than 4 billion yuan (US$571 million) of the bonds.
Green renewable corporate bonds are a special type of debt. They are approved by the National Development and Reform Commission and issued to public investors in the interbank market and the exchange market.
The raised funds can be used to support sustainable industrial projects and grant renewal to issuers. The issuer has the right to continue extending the bond term or repay it at maturity. They and can also choose to defer interest payments.