China Suntien Green to offer up to RMB 1 billion 5½%-6½% green bonds

By Marisa Wong

Morgantown, W.Va., March 7 – China Suntien Green Energy Corp. Ltd. said it will make a public offering of renewable green corporate bonds in tranches, with the first tranche of up to RMB 1 billion to be offered from March 9 to March 13.

The first tranche will have an initial issue size of RMB 500 million and an over-allotment option for up to RMB 500 million of additional bonds.

The bonds will be priced at par with a coupon of 5½% to 6½%. The final rate will be determined based on off-line bookbuilding results.

The initial term is three years, with an option to renew the bonds for an additional three years. The coupon will reset if the bonds are renewed.

China Galaxy Securities Co., Ltd. and Ping An Securities Co. Ltd. are the lead underwriters.

Proceeds will be used for construction, operation and acquisition of green projects and to repay borrowings for green projects.

China Chengxin Securities Rating Co., Ltd. has assigned a rating of AAA to the bonds.

The wind power and natural gas company is based in Shijiazhuang, China.

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