China’s GCL New Energy eyes RMB 1.75 billion three-year green bonds

By Marisa Wong

Morgantown, W.Va., Dec. 7 – GCL New Energy Holdings Ltd. said Suzhou GCL New Energy Investment Co., Ltd. plans to issue up to RMB 1.75 billion of three-year fixed-rate green bonds guaranteed by Nanjing GCL New Energy Development Co., Ltd.

Haitong Securities Co., Ltd. will be lead underwriter for the proposed issuance.

Pricing will be determined through a bookbuilding process.

Proceeds will be used for renewable energy project investment and construction and to repay financing for renewable energy projects.

GCL New Energy offers solar plant operation and maintenance through its subsidiaries. The company is based in Hong Kong.

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