By Marisa Wong
Madison, Wis., Nov. 17 – China Singyes Solar Technologies Holding Ltd. priced RMB 560 million of 7 7/8% senior notes on Nov. 14, according to a company announcement.
The three-year notes were priced at 99.672.
The notes are callable in whole at par plus an applicable premium at any time prior to maturity. The company may also redeem up to 35% of the notes at a redemption price of 107.875 using proceeds from sales of capital stock. In addition, the notes are subject to a change-of-control redemption at 101.
BOCI Asia Ltd., Standard Chartered Bank (Hong Kong) Ltd. and Guotai Junan Securities (Hong Kong) Ltd. acted as joint bookrunners and joint lead managers. BOCI Asia and Standard Chartered Bank are also the joint global coordinators.
Proceeds are earmarked for repayment of debt and general corporate purposes.
China Singyes designs renewable energy systems and is based in Zhuhai, Guangdong, China.
| Issuer: | China Singyes Solar Technologies Holding Ltd.
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| Issue: | Senior notes
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| Amount: | RMB 560 million
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| Maturity: | Nov. 21, 2017
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| Coupon: | 7 7/8%
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| Price: | 99.672
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| Call options: | In whole at par plus an applicable premium at any time prior to maturity; up to 35% of the notes at a redemption price of 107.875 using proceeds from sales of capital stock; at 101 upon change of control
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| Managers: | BOCI Asia Ltd., Standard Chartered Bank (Hong Kong) Ltd. and Guotai Junan Securities (Hong Kong) Ltd. (joint bookrunners and joint lead managers); Yuanta Securities (Hong Kong) Ltd. (co-manager); BOCI Asia and Standard Chartered Bank as joint global coordinators
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| Pricing date: | Nov. 14
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| Settlement date: | Nov. 21
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