By Wendy Van Sickle
Columbus, Ohio, Jan. 16 – Concord New Energy Group Ltd. priced $200 million of 7.9% senior notes (BB-/BB-) due Jan. 23, 2021 at par on Tuesday, according to a notice.
BofA Merrill Lynch, BOC International and China Everbright Bank Hong Kong Branch are the bookrunners and lead managers, with BofA Merrill Lynch as global coordinator for the Regulation S offering.
Proceeds will be used to repay existing debts and for general corporate purposes.
Concord is a wind power and solar power investment holding company based in Hong Kong.
| Issuer: | Concord New Energy Group Ltd.
|
| Issue: | Senior notes
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| Amount: | $200 million
|
| Maturity: | Jan. 23, 2021
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| Joint lead managers: | BofA Merrill Lynch (global coordinator), BOC International and China Everbright Bank Hong Kong Branch
|
| Coupon: | 7.9%
|
| Price: | Par
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| Yield: | 7.9%
|
| Call: | Make-whole call at any time
|
| Equity clawback: | For up to 35% at 107.9 at any time
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| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 23
|
| Expected ratings: | Fitch: BB-
|
| S&P Global Ratings: BB-
|
| Distribution: | Regulation S
|
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