By Marisa Wong
Los Angeles, July 30 – Hanwha Energy USA Holdings Corp. issued $300 million of 2 3/8% guaranteed senior green notes due 2022 on Tuesday, according to a Singapore Stock Exchange notice.
The three-year fixed-rate notes (A2), which priced at 70 basis points over Treasuries, are guaranteed by Korea Development Bank, according to a company press release.
Citigroup Global Markets Inc., Credit Agricole CIB, Korea Development Bank and Standard Chartered Bank are joint lead managers for the Regulation S and Rule 144A offering.
The issuer is an Irvine, Calif.-based holding company. Its subsidiaries provide development, design, construction and management services for solar power projects. Hanwha Energy USA is the solar power arm of Korea’s Hanwha Group.
| Issuer: | Hanwha Energy USA Holdings Corp.
|
| Guarantor: | Korea Development Bank
|
| Issue: | Fixed-rate guaranteed senior green notes
|
| Amount: | $300 million
|
| Maturity: | Three years
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Agricole CIB, Korea Development Bank and Standard Chartered Bank
|
| Coupon: | 2 3/8%
|
| Spread: | 70 bps
|
| Pricing date: | July 23
|
| Settlement date: | July 30
|
| Rating: | Moody’s: A2
|
| Distribution: | Rule 144A and Regulation S
|
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