China's ENN Energy talks 10-year benchmark dollar notes at Treasuries plus 300 bps area

By Christine Van Dusen

Atlanta, May 5 - China's ENN Energy Holdings Ltd. set price guidance for its planned issue of dollar-denominated senior notes due 2021 at the Treasuries plus 300 basis points area, a market source said.

Citigroup, BOC International, Barclays Capital and RBS are the bookrunners for the Rule 144A and Regulation S deal.

The notes include a change-of-control put at 101%.

Proceeds will be used for general corporate purposes, to finance capital expenditures, to refinance the company's 2012 notes, to pay off certain short-term loans and for business expansion acquisition of new projects.

ENN Energy Holdings is a Lanfang, China-based investment holding company that invests in, operates and manages gas pipeline infrastructure and sells and distributes gas.

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