Beijing Enterprises Water proposes up to RMB 1.5 billion of notes

By William Gullotti

Buffalo, N.Y., March 20 – Beijing Enterprises Water Group Ltd. said it plans to issue RMB 1.5 billion of medium-term notes in a first series for the year, according to an announcement on Monday.

The company has applied to register up to RMB 8 billion of medium-term notes with the National Association of Financial Market Institutional Investors.

Proceeds from the notes are intended to be used to repay existing loans and for general working capital.

There will be a change-of-control put option included, tied to parent company Beijing Enterprises Group Co., Ltd.

Beijing Enterprises provides a broad range of water services and environmental protection services in China. The company is based in Hong Kong.

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