By Christine Van Dusen
Atlanta, June 28 - Hong Kong's Beijing Enterprises Water Group Ltd. priced a two-tranche RMB 1.45 billion issue of notes due 2014 and 2016, according to a company filing.
The deal included RMB 1 billion 3¾% notes due June 30, 2014 that priced at par and RMB 450 million 5% notes due June 30, 2016 that priced at par.
Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley were the bookrunners for the Regulation S issue of notes, which include a change-of-control put at 101%.
Proceeds will be used to make shareholder loans to subsidiaries, to finance capital expenditures, for general corporate purposes and for working capital.
Beijing Enterprises Water Group is a Hong Kong-based investment holding company that focuses on sewage and water treatment.
| Issuer: | Beijing Enterprises Water Group Ltd.
|
| Amount: | RMB 1.45 billion
|
| Description: | Notes
|
| Bookrunners: | Goldman Sachs, Bank of America Merrill Lynch, Morgan Stanley
|
| Change-of-control put: | 101%
|
| Trade date: | June 28
|
| Settlement date: | June 30
|
| Distribution: | Regulation S
|
|
|
| Three-year notes
|
| Amount: | RMB 1 billion
|
| Maturity: | June 30, 2014
|
| Coupon: | 3¾%
|
| Price: | Par
|
| Yield: | 3¾%
|
|
|
| Five-year notes
|
| Amount: | RMB 450 million
|
| Maturity: | June 30, 2016
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
