By Rebecca Melvin
New York, June 19 – China Energy Engineering Corp. Ltd. issued RMB 1 billion of 3˝% bonds that are callable after three years, according to an announcement.
The bond is the company’s first tranche in 2020 of renewable corporate bonds under its RMB 1.5 billion issuance program.
The bonds are callable after three years and then every third year after that, with a repricing at the end of each cycle.
CSC Financial Co. Ltd, China International Capital Corp. Ltd. and BOC International (China) Co. Ltd. are joint bookrunners of the bonds.
The proceeds are earmarked to repay debt and for working capital.
The company provides energy development services and is based in Beijing.
| Issuer: | China Energy Engineering Corp. Ltd.
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| Issue: | Renewable corporate bonds
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| Amount: | RMB 1 billion
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| Bookrunners: | CSC Financial Co. Ltd, China International Capital Corp. Ltd. and BOC International (China) Co. Ltd.
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| Coupon: | 3˝%, repricing after three years
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| Call option: | After three years, then every third year
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