New Issue: Jinan Energy unit prices $210 million 6% guaranteed green bonds due 2024 at par

By William Gullotti

Buffalo, N.Y., April 20 – Hong Kong’s Guoneng Environmental Protection Investment Group Co., Ltd. priced $210 million of 6% guaranteed green bonds due 2024 at par, according to a listing notice and an offering circular on Thursday.

The bonds are guaranteed by parent company Jinan Energy Group Co., Ltd.

China Securities International, Guotai Junan International, China International Capital Corp., Zhongtai International, Luso Bank Ltd., CCB International, China Citic Bank International, China Credit International Securities, China Galaxy International, CNCB Capital, Orient Securities (Hong Kong) and Shenwan Hongyuan (H.K.) are the joint lead managers and joint bookrunners, with China Securities, Guotai, China International, Zhongtai and Luso also acting as joint global coordinators.

China Securities is also the sole green structuring adviser.

Proceeds will be used to finance and/or refinance eligible projects under the green finance framework.

Listings for the Regulation S bonds are expected on the Hong Kong Exchange and the Chongwa (Macao) Exchange effective April 20.

The issuer is a direct, wholly owned, special purpose subsidiary of the guarantor, incorporated in Hong Kong. The guarantor is wholly owned by the Jinan Municipal Government, operating energy supply businesses in China’s Shandong Province.

Issuer:	Guoneng Environmental Protection Investment Group Co., Ltd.
Guarantor:	Jinan Energy Group Co., Ltd.
Amount:	$210 million
Issue:	Guaranteed green bonds
Maturity:	April 17, 2024
Bookrunners:	China Securities International, Guotai Junan International, China International Capital Corp., Zhongtai International, Luso Bank Ltd., CCB International, China Citic Bank International, China Credit International Securities, China Galaxy International, CNCB Capital, Orient Securities (Hong Kong) and Shenwan Hongyuan (H.K.)
Green structuring adviser:	China Securities International
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Fangda Partners (England, Hong Kong), Shandong Kangqiao Law Firm (China)
Counsel to underwriters:	Freshfields Bruckhaus Deringer (England), Shandong Qilu Law Firm (China)
Coupon:	6%
Price:	Par
Yield:	6%
Call:	For taxation reasons at par plus interest
Put options:	At 101 plus interest for a change of control; at par plus interest for no registration event
Pricing date:	April 14
Issue date:	April 19
Listing date:	April 20
Distribution:	Regulation S
ISIN:	XS2607211864

© 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.