New Issue: Shanghai Electric sells $500 million 2.65% guaranteed bonds due 2024

By Marisa Wong

Los Angeles, Nov. 21 – Shanghai Electric Group Global Investment Ltd. issued $500 million of 2.65% guaranteed bonds due 2024 (A2/A), according to a notice.

UBS AG Hong Kong Branch, Barclays Bank plc, ICBC International Securities Ltd., Guotai Junan Securities (Hong Kong) Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, Oversea-Chinese Banking Corp. Ltd., Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, China Construction Bank (Asia) Corp. Ltd., J.P. Morgan Securities plc and MUFG Securities Asia Ltd. are the bookrunners.

The issuer is a subsidiary of Shanghai Electric (Group) Corp., a Shanghai-based power generation and equipment manufacturing company.

Issuer:	Shanghai Electric Group Global Investment Ltd.
Issue:	Guaranteed bonds
Amount:	$500 million
Maturity:	Nov. 21, 2024
Bookrunners:	UBS AG Hong Kong Branch, Barclays Bank plc, ICBC International Securities Ltd., Guotai Junan Securities (Hong Kong) Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, Oversea-Chinese Banking Corp. Ltd., Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, China Construction Bank (Asia) Corp. Ltd., J.P. Morgan Securities plc and MUFG Securities Asia Ltd.
Coupon:	2.65%
Settlement date:	Nov. 21
Ratings:	Moody’s: A2
	S&P: A

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