Chicago, April 11 – China Everbright Greentech Ltd. sold RMB 1.2 billion of five-year green notes, according to an announcement.
The notes start with a 3.27% interest rate for the first three years.
The rate will reset on the third anniversary.
Investors can sell the notes back to the company at the third anniversary date.
The notes were offered through China’s national interbank bond market by Everbright Securities Co. Ltd. as the lead underwriter and Industrial and Commercial Bank of China Ltd. as the joint lead underwriter.
Proceeds will be used to repay the group’s interest-bearing debts, replenish the group’s working capital and/or investment and construction of the group’s environmental protection projects and other business development purposes.
China Everbright Greentech is a Hong Kong-based environmental protection services investment holding company.
| Issuer: | China Everbright Greentech Ltd.
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| Amount: | RMB 1.2 billion
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| Issue: | Green notes
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| Maturity: | April 8, 2027
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| Bookrunners: | Everbright Securities Co. Ltd. and Commercial Bank of China Ltd.
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| Coupon: | 3.27% starting rate; resets once in year three
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| Price: | Par of RMB 100
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| Yield: | 3.27%
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| Puts: | Third anniversary
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| Settlement date: | April 8
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| Distribution: | China interbank bond market
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