China’s GCL New Energy plans notes, to launch roadshow Thursday

By Marisa Wong

Morgantown, W.Va., Jan. 17 – GCL New Energy Holdings Ltd. plans to conduct an international offering of senior notes. The company will begin a series of roadshow presentations starting on Jan. 18, according to a company announcement.

BofA Merrill Lynch, Haitong International, Credit Suisse, Standard Chartered Bank, CLSA, Orient Securities (Hong Kong), VTB Capital and SPDB International will act as joint lead managers and joint bookrunners for the proposed Regulation S deal. BofA Merrill Lynch, Haitong International, Credit Suisse, Standard Chartered Bank and CLSA will be the joint global coordinators.

Pricing will be determined through a bookbuilding process.

Proceeds will be used to for the development of business operations, to repay bank loans, including the company’s Credit Suisse term loan, and for other general corporate purposes.

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

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