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China’s Zhejiang Energy Group launches $300 million three-year notes at 130 bps over Treasuries
By Christine Van Dusen
Atlanta, Sept. 23 – China’s Zhejiang Energy Group (Hong Kong) Ltd. launched a $300 million offering of three-year notes (expected ratings: A2//A) at a spread of 130 basis points over Treasuries, a market source said.
JPMorgan, Standard Chartered Bank, BNP Paribas, Citigroup and HSBC are the bookrunners for the Regulation S deal.
The notes include a change-of-control put at 101%.
The coal procurement company will use proceeds for trading, investment and other general corporate purposes.
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