Chicago, June 16 – China Huadian Overseas Development 2018 Ltd. issued $500 million of 3 3/8% senior guaranteed perpetual securities (A2), according to a post.
The notes are guaranteed by China Huadian Corp. Ltd.
The drive-by deal was more than 5.8 times oversubscribed.
The yield priced 57.5 basis points tighter than initial talk.
Proceeds will be used for the group’s overseas projects and general corporate purposes.
The state-owned power generation company is based in Beijing.
| Issuer: | China Huadian Overseas Development Management 2018 Ltd.
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| Guarantor: | China Huadian Corp. Ltd.
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| Issue: | Senior guaranteed perpetual securities
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| Amount: | $500 million
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| Maturity: | Perpetual
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| Coupon: | 3 3/8%
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| Pricing date: | June 15
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| Rating: | Moody’s: A2
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| Marketing: | Quick to market
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