By Rebecca Melvin
Concord, N.H., Jan. 19 – Beijing Gas Singapore Capital Corp. priced $500 million 1 7/8% three-year green notes guaranteed by Beijing Gas Group Co. Ltd., according to a notice.
The notes (expected ratings: A3//A) priced at 99.725 and have a make-whole call at the adjusted Treasury rate plus 15 basis points. They are puttable upon a change of control at 101.
Mizuho Securities, ICBC International and Haitong International were joint global coordinators and were also joint bookrunners and joint lead managers, together with Citigroup, HSBC, CLSA, China Securities International, Orient Securities (Hong Kong), OCBC Bank and DBS Bank Ltd.
Proceeds will be used for financing or refinancing, in part or in full, new and/or existing eligible green projects.
Beijing Gas Singapore was formed for the purpose of issuing debt securities to repay existing credit facilities, refinance indebtedness, and for acquisition purposes.
| Issuer: | Beijing Gas Singapore Capital Corp.
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| Guarantor: | Beijing Gas Group Co. Ltd.
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| Amount: | $500 million
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| Issue: | Guaranteed green notes
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| Maturity: | Jan. 18, 2025
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| Bookrunners: | Mizuho Securities, ICBC International, Haitong International, Citigroup, HSBC, CLSA, China Securities International, Orient Securities (Hong Kong), OCBC Bank and DBS Bank Ltd.
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| Coupon: | 1 7/8%
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| Price: | 99.725
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| Call features: | Make-whole call at Treasuries plus 15 bps
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| Change of control put: | Yes, at 101
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| Pricing date: | Jan. 11
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| Issue date: | Jan. 18
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| Distribution: | Regulation S
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