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China’s State Grid sets size at €1 billion, tenors at seven, 12 years for notes offering
By Christine Van Dusen
Atlanta, Jan. 20 – China’s State Grid Europe Development plc has set the size at €1 billion and the tenors at seven and 12 years for an offering of notes (expected ratings: A1/A+/A+), a market source said.
Deutsche Bank, HSBC and Morgan Stanley are the joint global coordinators. Deutsche Bank, HSBC, Morgan Stanley, ANZ, Bank of China, Barclays and RBS are the joint bookrunners and joint lead managers for the deal.
The notes will be issued by wholly owned subsidiary State Grid Europe Development (2014) plc.
The power distributor is based in Beijing.
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