Chicago, Jan. 3 – Ming Yang Smart Energy Group Ltd. sold $200 million 1.6% three-year green bonds (//A) through fully owned subsidiary MingYang Smart Energy (BVI) Co. Ltd., according to multiple notices.
The bonds priced at par.
The Bank of China Ltd.’s Guangdong branch provided a standby letter of credit.
The issue will be listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. It is the first offshore bond offering for the company.
Proceeds will be used for the demonstration of integration of fire, wind solar, storage and research in Tongliao, Inner Mongolia.
The issuer is one of the world’s largest wind turbine manufacturers. The company is based in China.
| Issuer: | MingYang Smart Energy (BVI) Co. Ltd.
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| Amount: | $200 million
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| Issue: | Green bonds
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| Maturity: | Dec. 14, 2024
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| Counsel to issuer: | King & Wood Mallesons
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| Coupon: | 1.6%
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| Price: | Par
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| Yield: | 1.6%
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| Settlement date: | Dec. 6
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| Rating: | Fitch: A
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