China Everbright investors may put RMB 700 million of bonds due 2024

By Devika Patel

Knoxville, Tenn., Dec. 20 – China Everbright Water Ltd. said its bondholders may sell all or some of the company’s RMB 700 million of corporate bonds due 2024, according to a press release.

Under the bond’s terms, holders may put the debt after three years.

The price under the sell back option is equal to par, or RMB 100, per bond, provided that each bondholder may only exercise the sellback option in lots of at least 10 bonds, or RMB 1,000 of bonds.

The bondholders who wish to exercise the sellback option must register on the Shanghai Stock Exchange between Dec. 24 and Dec. 31 and may withdraw their registration at any time up until, and including, Jan. 17, 2022.

If any bondholder does not register or withdraws within that time frame, the investor will be considered to have chosen to keep their bonds.

The bonds were issued in January 2019.

Last week, the company announced that it is cutting the interest rate of the bonds, which are listed on the Shanghai Stock Exchange.

The amount of the adjustment will be disclosed in a further announcement.

The bonds, representing the third tranche issued in 2019, were entitled to a rate adjustment for the last two years of their term.

China Everbright Water, formerly HanKore Environment Tech Group Ltd., is a Beijing-based company that invests and operates in the water environment sector.

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