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Article: China : China Huaneng Said to Tell Banks Loans Uncompetitive.
- Article from:
- TendersInfo
- Article date:
- June 26, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sander03
China Huaneng Group, the nation s biggest power producer, told 13 international banks bidding to extend a S$2.25 billion ($1.54 billion) loan that their offers were uncompetitive, said six people familiar with the talks.
The Beijing-based utility sent letters to lenders including Commonwealth Bank of Australia, Oversea-Chinese Banking Corp. and Natixis SA telling them they won t be needed, said the people, who asked not to be named as the information is private. The letter didn t say how the company will refinance its loan, which matures in August, they said.
Huaneng may borrow from banks in China, the people said, tapping a ...