China Everbright Water proposes RMB 2 billion of asset-backs

Chicago, April 17 – China Everbright Water Ltd. is proposing a RMB 2 billion issue of asset-backed securities, according to a notice.

The original beneficiary would be subsidiary Everbright Water (Shenzhen) Ltd. The parent will guarantee.

The deal is set to be structed in seven tranches plus a subordinated class. Maturities will start in 2025 and increase in annual increments for each class except for tranche seven, which will mature in 2033 with the subordinated class.

The underlying assets will be the rights of Everbright Water (Zibo) Ltd.

Subscriber preference will be given to qualified institutional investors in China.

Everbright Water (Shenzhen) will hold the subordinated notes.

Final details of issuance are expected on April 19.

Orient Minerva Asset Management Co., Ltd. is the manager.

Proceeds will be used to replenish working capital and allow the group to optimize its financing structure and maintain its financial cost at a reasonable level.

China Everbright Water is a Beijing-based company that invests and operates in the water environment sector.

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