China Everbright Water registration accepted for RMB 5 billion medium-term notes

By Mary-Katherine Stinson

Lexington, Ky., March 6 – China Everbright Water Ltd. received notice that the National Association of Financial Market Institutional Investors of the People’s Republic of China has accepted the registration for the company’s proposed issuance of RMB 5 billion of medium-term notes with tenors not to exceed five years, according to a company announcement.

The registration is valid for two years from the date of acceptance, which was March 2.

As previously reported, the notes will be issued at face value, with the interest rates determined during bookbuilding. At the end of the third year, the interest rate may be adjusted at the issuer’s option.

The first tranche of the notes is expected to total between RMB 1 billion and RMB 1.5 billion.

Everbright Securities Co., Ltd. is the bookrunner and lead underwriter, with Shanghai Pudong Development Bank Co., Ltd. acting as a joint lead underwriter. Additional joint lead underwriters may be appointed later.

The notes will be issued and traded in China’s interbank bond market.

Proceeds will be used to replenish company liquidity and repay outstanding loans.

China Everbright Water, formerly HanKore Environment Tech Group Ltd., is a Beijing-based company that invests and operates in the water environment sector.

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