China’s Huadian Fuxin to issue RMB 2 billion five-, seven-year bonds

By Marisa Wong

Morgantown, W.Va., Oct. 31 – Huadian Fuxin Energy Corp. Ltd. said it is offering RMB 2 billion of corporate bonds.

The bonds consist of two types: type 1 bonds with a term of five years and a coupon adjustment option and put option at the end of the third year and type 2 bonds with a term of seven years and a coupon adjustment option and put option at the end of the fifth year.

Each type has an initial issue size of RMB 1 billion, but the amounts may be reallocated according to an off-market bookbuilding.

The bonds will be sold at par. The coupons will be determined through an offline process.

UBS Securities Co., Ltd., Huatai United Securities Co., Ltd. and China Chuancai Securities Co. Ltd. are the lead underwriters, and UBS Securities is the bookrunner.

Proceeds will be used to repay interest-bearing debt and to replenish working capital.

Huadian Fuxin is a power project company based in Beijing.

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