New Issue: China Datang issues RMB 1 billion 2.53% corporate bonds with three-year base tenor

By William Gullotti

Buffalo, N.Y., April 22 – China Datang Corp. Renewable Power Co., Ltd. issued RMB 1 billion of 2.53% renewable corporate bonds with an initial term of three years on April 15, according to an announcement on Monday.

As with prior issues, the notes were issued at par of RMB 100 in China’s inter-bank bond market through book building.

Citic Securities Co., Ltd. was the lead underwriter, with China International Capital Corp., Ltd., Orient Securities Investment Banking Co., Ltd., CSC Financial Co., Ltd., Shenwan Hongyuan Securities Co., Ltd. and Ping An Securities Co., Ltd. also acting as joint lead underwriters.

Citic also served as bookrunner and trustee for the issue.

Proceeds will be used to repay interest-bearing debt, for replenishing working capital, for project investment and for other general corporate purposes.

The wind, solar and biomass power company is based in Beijing.

Issuer:	China Datang Corp. Renewable Power Co., Ltd.
Amount:	RMB 1 billion
Issue:	Renewable corporate bonds, 2024 2nd tranche
Tenor:	Three years (with option to renew)
Bookrunner:	Citic Securities Co., Ltd.
Underwriters:	Citic Securities Co., Ltd. (lead), China International Capital Corp., Ltd., Orient Securities Investment Banking Co., Ltd., CSC Financial Co., Ltd., Shenwan Hongyuan Securities Co., Ltd. and Ping An Securities Co., Ltd.
Trustee:	Citic Securities Co., Ltd.
Coupon:	2.53%
Price:	Par of RMB 100
Yield:	2.53%
Issue date:	April 15

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