Published on 7/17/2017 in the Prospect News Emerging Markets Daily.
New Issue: China’s ENN Energy prices $600 million bonds due 2022 with 3¼% coupon
By Wendy Van Sickle
Columbus, Ohio, July 17 – ENN Energy Holdings Ltd. priced $600 million of 3¼% five-year bonds (Baa2/BBB) at 99.867 on Monday, according to a company notice.
Citigroup Global Markets Ltd., Nomura International plc, BNP Paribas, BOCI Asia Ltd., China Merchants Securities (HK) Co., Ltd., Citigroup Global Markets Ltd., HSBC Ltd., ICBC International Securities Ltd. and Morgan Stanley & Co. International plc were the joint bookrunners and joint lead managers for the Regulation S offering.
Proceeds will be used for refinancing existing debt and general corporate purposes, including working capital.
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: | Bonds
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| Amount: | $600 million
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| Maturity: | July 24, 2022
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| Bookrunners: | Citigroup Global Markets Ltd., Nomura International plc, BNP Paribas, BOCI Asia Ltd., China Merchants Securities (HK) Co., Ltd., Citigroup Global Markets Ltd., HSBC Ltd., ICBC International Securities Ltd. and Morgan Stanley & Co. International plc
|
| Coupon: | 3¼%
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| Price: | 99.867
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| Trade date: | July 17
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| Settlement date: | July 24
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| Ratings: | Moody's: Baa2
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| Fitch: BBB
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| Distribution: | Regulation S
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