New Issue: China’s Zhejiang Energy prices $300 million 2.3% notes due 2017 at 130 bps spread

By Christine Van Dusen

Atlanta, Sept. 23 – China’s Zhejiang Energy Group (Hong Kong) Ltd. printed $300 million 2.3% three-year notes (expected ratings: A2//A) on Tuesday at 99.853 to yield 130 basis points over Treasuries, a market source said.

JPMorgan, Standard Chartered Bank, BNP Paribas, Citigroup and HSBC were the bookrunners for the Regulation S deal.

The coal procurement company will use proceeds for trading, investment and other general corporate purposes.

Issuer:	Zhejiang Energy Group (Hong Kong) Ltd.
Amount:	$300 million
Maturity:	Sept. 30, 2017
Description:	Senior notes
Bookrunners:	JPMorgan, Standard Chartered Bank, BNP Paribas, Citigroup, HSBC
Coupon:	2.3%
Price:	99.853
Spread:	Treasuries plus 130 bps
Change-of-control put:	At 101%
Trade date:	Sept. 23
Settlement date:	Sept. 30
Expected ratings:	Moody’s: A2
	Fitch: A
Distribution:	Regulation S

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