By Marisa Wong
Morgantown, W.Va., Aug. 25 – China’s Panda Green Energy Group Ltd. said it issued RMB 500 million of additional 6.72% corporate bonds due Aug. 25, 2020 on Friday through wholly owned subsidiary United Photovoltaics (Changzhou) Investments Co., Ltd.
The company had issued an initial RMB 200 million of 6.72% three-year bonds on July 25 and another RMB 300 million of 6.72% three-year bonds on Aug. 10, as previously reported.
The latest bonds were offered at par.
The interest rate is adjustable at the end of the first year and second year.
GF Securities Co., Ltd. is the underwriter for the private placement.
Proceeds will be used to refinance existing debt.
Formerly United Photovoltaics Group Ltd., Panda Green is a Hong Kong-based investment holding company focused on the development, investment and operation of solar power plants in China.
| Issuer: | United Photovoltaics (Changzhou) Investments Co., Ltd.
|
| Issue: | Corporate bonds, add-on
|
| Amount: | RMB 500 million
|
| Maturity: | Aug. 25, 2020
|
| Underwriter: | GF Securities Co., Ltd.
|
| Coupon: | 6.72%, adjustable at end of first year and second year
|
| Price: | Par
|
| Settlement date: | Aug. 25
|
| Distribution: | Private placement
|
| Original issue: | RMB 200 million issued on July 25
|
| Previous add-on: | RMB 300 million issued on Aug. 10
|
| Total amount: | RMB 1 billion
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
