By Jennifer Chiou
New York, Oct. 15 – ENN Energy Holdings Ltd. announced its issue of $400 million of 3.25% five-year bonds with UBS AG, Hong Kong Branch and Hongkong and Shanghai Banking Corp. Ltd. as the joint global coordinators, joint bookrunners and joint lead managers.
The bonds priced at 99.502.
As reported, the company plans to use the proceeds to fund part of the RMB 4 billion to be paid in connection with its acquisition of 1.12% of Sinopec Marketing Co., Ltd. and for general corporate purposes, including working capital.
Settlement is anticipated on Oct. 23.
The company will look to list the bonds on a stock exchange, according to a filing with the Hong Kong Exchange.
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.
|
| Issue: | Bonds
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| Amount: | $400 million
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| Maturity: | Oct. 23, 2019
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| Bookrunners: | UBS AG, Hong Kong Branch and Hongkong and Shanghai Banking Corp. Ltd.
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| Coupon: | 3.25%
|
| Price: | 99.502
|
| Trade date: | Oct. 15
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| Settlement date: | Oct. 23
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| Distribution: | Regulation S
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