By Rebecca Melvin
New York, Sept. 11 – China’s ENN Energy Holdings Ltd. priced $750 million of 2 5/8% green bonds due 2030 (Baa2/BBB/BBB) at 99.164 on Thursday, according to a company notice.
HSBC, Morgan Stanley, Citigroup, Standard Chartered Bank, JPMorgan, MUFG and Westpac Banking Corp. were the joint bookrunners and joint lead managers for the Regulation S offering.
The notes have a make-whole call and are redeemable at par at maturity. There is also a change-of-control put at 101% of par.
The proceeds will be used for refinancing existing debt and to fund refinance capital or operating expenditures, including R&D, construction, acquisitions and operating on new or existing green projects.
ENN Energy is a Lanfang, China-based investment holding company that invests in, operates and manages gas pipeline infrastructure and sells and distributes gas.
| Issuer: | ENN Energy Holdings Ltd.
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| Issue: | Green notes
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| Amount: | $750 million
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| Maturity: | Sept. 17, 2030
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| Bookrunners: | HSBC, Morgan Stanley, Citigroup, Standard Chartered Bank, JPMorgan, MUFG and Westpac Banking Corp.
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| Coupon: | 2 5/8%
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| Price: | 99.164
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| Calls: | Make-whole call and par call at maturity
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| Puts: | At 101% upon a change of control
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| Trade date: | Sept. 10
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| Settlement date: | Sept. 17
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| Ratings: | Moody's: Baa2
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| S&P’s: BBB
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| Fitch: BBB
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| Distribution: | Regulation S
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