China Suntien to offer up to RMB 910 million 4.2%-5.2% green bonds

By Sarah Lizee

Olympia, Wash., Feb. 27 – China Suntien Green Energy Corp. Ltd. said it will make a public offering of up to RMB 910 million of renewable green corporate bonds to be offered from March 1 to March 5.

The bonds will be priced at par with a coupon of 4.2% to 5.2%. 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.

This is the company’s first tranche of renewable green corporate bonds for 2019. In March 2017, the company obtained regulatory approval to issue up to RMB 1.5 billion of the bonds in tranches. Following this first tranche for 2019, the original issuance size of renewable corporate bonds will almost be fully used.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.