By Mary-Katherine Stinson
Lexington, Ky., Sept. 11 – China Everbright Ltd. issued RMB 2 billion of medium-term with an initial coupon rate of 3.6% at par of RMB 100, according to an announcement.
The coupon rate will reset every three years.
Additionally, at the end of the base term and each extended term, the company may extend the maturity of the notes for an additional base term or to redeem the notes in full at par plus interest.
The redemption would be payable on the last interest payment date of the first pricing term and on each subsequent interest payment date.
Proceeds will be used to redeem the company’s $300 million overseas senior perpetual capital securities.
China Everbright is a Hong Kong-based financial services company.
| Issuer: | China Everbright Ltd.
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| Amount: | RMB 2 billion
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| Issue: | Medium-term notes, second tranche
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| Tenor: | Three-year base term
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| Coupon: | 3.6%
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| Price: | Par of RMB 100
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| Yield: | 3.6% initially; reset every three years
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| Call features: | At par after three years; on each subsequent interest payment date after
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| Settlement date: | Sept. 8
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