New York, July 12 – China Everbright Ltd. said it completed the sale of RMB 2.5 billion of bonds in two tranches.
The company sold RMB 1 billion of five-year type 1 bonds with a 4.55% coupon and RMB 1.5 billion of seven-year type 2 bonds with a 4.8% coupon, according to an announcement.
The type 1 bonds have a put option at the end of the third year, at which point the issuer may also adjust the coupon rate. The type 2 bonds have a put option and coupon adjustment option at the end of the fifth year.
Everbright Securities Co. Ltd. is the bookrunner.
China Chengxin Securities Rating Co. Ltd. has assigned a rating of AAA to the upcoming bonds.
China Everbright is a Hong Kong-based financial conglomerate in China.
| Issuer: | China Everbright Ltd.
|
| Issue: | 2017 first tranche corporate bonds
|
| Amount: | RMB 2.5 billion
|
| Bookrunner: | Everbright Securities Co. Ltd.
|
| Pricing date: | July 11
|
| Rating: | China Chengxin: AAA
|
|
|
| Type 1 bonds
|
| Amount: | RMB 1 billion
|
| Maturity: | Five years
|
| Coupon: | 4.55%
|
| Put: | After three years
|
|
|
| Type 2 bonds
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| Amount: | RMB 1.5 billion
|
| Maturity: | Seven years
|
| Coupon: | 4.8%
|
| Put: | After five years
|
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