Dongjiang Environmental to sell up to RMB 1 billion green bonds Friday

By Marisa Wong

Morgantown, W.Va., March 7 – Dongjiang Environmental Co. Ltd. said it will issued its first tranche of green corporate bonds on Friday.

The base issue size is RMB 300 million, with an up to RMB 700 million over-allotment option.

The bonds will be sold at par.

The fixed-rate bonds have a term of three years. After the end of the second year, the company may increase the coupon rate and the bonds will be putable.

In December the company announced it obtained regulatory approval to issue up to RMB 1 billion of green corporate bonds in tranches with maturities of up to five years.

Proceeds will be used for investment and operation of green projects and to repay bank loans related to green projects, as previously noted.

Based in Shenzhen, China, Dongjiang Environmental treats industrial and municipal waste.

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