By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., July 21 – Hanwha Q Cells Americas Holdings Corp. priced $400 million of 5% green notes due July 27, 2028 (Aa2/AA) at Treasuries plus 105 basis points, according to a market source.
Price talk had been in the Treasuries plus 140 bps area.
The notes will be guaranteed by the Export-Import Bank of Korea (Kexim).
BofA Securities, Inc., Citigroup, Credit Agricole CIB and Korea Development Bank are the bookrunners.
Hanwha Q Cells Americas Holdings intends to use the proceeds to finance its existing renewable energy projects under its green financing framework, according to S&P Global Ratings.
The manufacturer of silicon ingots, silicon wafers, photovoltaic cells and photovoltaic modules is based in Seoul, Korea.
| Issuer: | Hanwha Q Cells Americas Holdings Corp.
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| Guarantor: | Export-Import Bank of Korea (Kexim)
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| Amount: | $400 million
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| Issue: | Senior notes
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| Maturity: | July 27, 2028
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| Bookrunners: | BofA Securities, Inc., Citigroup, Credit Agricole CIB and Korea Development Bank
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| Coupon: | 5%
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| Spread: | Treasuries plus 105 bps
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| Ratings: | Moody’s: Aa2
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| S&P: AA
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| Price talk: | Treasuries plus 140 bps area
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