By Marisa Wong
Madison, Wis., July 26 - HanKore Environment Tech Group Ltd. priced S$50 million of fixed-rate notes due 2015 at par to yield 7½%, matching price talk.
DBS Bank Ltd. is the arranger and dealer for the offering that is expected to settle on Aug. 1, according to a company announcement.
This will be the first series of notes issued under HanKore's S$300 million multicurrency medium-term note program established on July 23.
The notes have a change-of-control put and are subject to mandatory redemption.
Proceeds will be used for general corporate purposes, including financing investments and general working capital.
HanKore is a Beijing-based company that invests and operates in the water environment sector.
| Issuer: | HanKore Environment Tech Group Ltd.
|
| Issue: | Fixed-rate notes, series 001
|
| Amount: | S$50 million
|
| Maturity: | Aug. 1, 2015
|
| Coupon: | 7½%
|
| Price: | Par
|
| Yield: | 7½%
|
| Put option: | At 101 upon change of control; notes also subject to redemption upon mandatory redemption event
|
| Arranger: | DBS Bank Ltd.
|
| Pricing date: | July 26
|
| Settlement date: | Aug. 1
|
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