Published on 9/22/2020 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: China Three Gorges unit prices $500 million 2.15% notes due 2030
By Marisa Wong
Los Angeles, Sept. 22 – China Three Gorges Corp.’s wholly owned subsidiary, Three Gorges Finance I (Cayman Islands) Ltd., issued $500 million of 2.15% guaranteed notes due 2030 (A1//A+) on Tuesday, according to a notice.
The parent company is the guarantor.
Bank of China Ltd., Singapore Branch, Deutsche Bank AG, Singapore Branch, ICBC International Securities Ltd., Industrial and Commercial Bank of China (Asia) Ltd., J.P. Morgan (SEA) Ltd., Agricultural Bank of China Ltd. Hong Kong Branch, Mizuho Securities Asia Ltd., CCB International Capital Ltd., Standard Chartered Bank, CLSA Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, Bocom International Securities Ltd., DBS Bank Ltd., UBS AG Hong Kong Branch, Morgan Stanley & Co. International plc and Societe Generale are the lead managers and bookrunners.
Three Gorges is a state-owned power company based in Beijing.
| Issuer: | Three Gorges Finance I (Cayman Islands) Ltd.
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| Guarantor: | China Three Gorges Corp.
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| Issue: | Notes
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| Amount: | $500 million
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| Maturity: | Sept. 22, 2030
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| Bookrunners: | Bank of China Ltd., Singapore Branch, Deutsche Bank AG, Singapore Branch, ICBC International Securities Ltd., Industrial and Commercial Bank of China (Asia) Ltd., J.P. Morgan (SEA) Ltd., Agricultural Bank of China Ltd. Hong Kong Branch, Mizuho Securities Asia Ltd., CCB International Capital Ltd., Standard Chartered Bank, CLSA Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, Bocom International Securities Ltd., DBS Bank Ltd., UBS AG Hong Kong Branch, Morgan Stanley & Co. International plc and Societe Generale
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| Coupon: | 2.15%
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| Settlement date: | Sept. 22
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| Ratings: | Moody’s: A1
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| Fitch: A+
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