By Marisa Wong
Madison, Wis., Nov. 6 – Guodian Technology & Environment Group Corp. Ltd. said it completed the issue of RMB 600 million of debt financing instruments on Thursday.
The one-year instruments carry a coupon of 4.55%.
China Merchants Bank Co., Ltd. and Agricultural Bank of China Ltd. acted as joint lead underwriters for the placement.
This is the company’s first tranche of debt financing instruments for 2014.
Proceeds will be used to repay debt, to adjust the company’s debt structure, to supplement working capital and to replace previously borrowed bank loans with comparatively higher finance costs.
Beijing-based Guodian specializes in environmental protection and energy saving for coal-fired power plants, as well as renewable energy equipment manufacturing.
| Issuer: | Guodian Technology & Environment Group Corp. Ltd.
|
| Issue: | Debt financing instruments
|
| Amount: | RMB 600 million
|
| Maturity: | One year
|
| Underwriters: | China Merchants Bank Co., Ltd. and Agricultural Bank of China Ltd. (joint lead)
|
| Coupon: | 4.55%
|
| Settlement date: | Nov. 6
|
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