By Lisa Kerner
Charlotte, N.C., Aug 2 – Beijing Enterprises Water Group Ltd. issued RMB 4 billion of panda bonds in two phases to qualified investors in a public offering, according to a news release.
The company issued a RMB 1.8 billion five-year bond with a fixed rate of 3% and the option for the issuer to adjust the coupon rate and for the investors to sell the bond back at the end of year three.
The company issued a RMB 2.2 billion seven-year bond with a fixed rate of 3.33% and the option for the issuer to adjust the coupon rate and for the investors to sell the bond back at the end of year five.
Finally, the company issued a RMB 700 million five-year green bond with a fixed rate of 3.25% and the option for the issuer to adjust the coupon rate and for the investors to sell the bond back at the end of year three.
Bookbuilding for the panda bonds was completed July 27, and bookbuilding for the green panda bond was completed on Sunday
A panda bond is a Chinese renminbi-denominated bond from a non-Chinese issuer sold in the People's Republic of China.
Hong Kong-based Beijing Enterprises Water Group provides water services and environmental protection services in China.
| Issuer: | Beijing Enterprises Water Group Ltd.
|
| Issue: | Panda bonds
|
| Amount: | RMB 4.7 billion
|
|
|
| Five-year bond
|
| Amount: | RMB 1.8 billion
|
| Tenor: | Five years
|
| Coupon: | 3%, adjustable at end of year three
|
| Put option: | At end of year three
|
|
|
| Seven-year bond
|
| Amount: | RMB 2.2 billion
|
| Tenor: | Seven years
|
| Coupon: | 3.33%, adjustable at end of year five
|
| Put option: | At end of year five
|
|
|
| Green bond
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| Amount: | RMB 700 million
|
| Tenor: | Five years
|
| Coupon: | 3.25%, adjustable at end of year three
|
| Put option: | At end of year three
|
|
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