By Rebecca Melvin
New York, July 20 – China Jinjiang Environment Holding Co. Ltd. priced $200 million of 6% three-year senior notes at 99.326, according to a news release on Thursday.
The Regulation S notes (expected ratings; Ba3/BB-) were sold via Morgan Stanley & Co. International plc as global coordinator and bookrunner.
The notes have a change-of-control put at 101%.
Proceeds are earmarked for the company’s overseas waste-to-energy projects.
Application will be made to list the notes on the Singapore Exchange Securities Trading Ltd.
China Jinjiang Environment is a waste-to-energy company in China.
| Issuer: | China Jinjiang Environment Holding Co. Ltd.
|
| Issue: | Senior notes
|
| Amount: | $200 million
|
| Maturity: | July 27, 2020
|
| Bookrunner: | Morgan Stanley & Co. International plc
|
| Coupon: | 6%
|
| Price: | 99.326
|
| Call: | At any time at a premium
|
| Equity clawback: | For up to 35% at 106 during life of notes
|
| Change-of-control put: | 101%
|
| Pricing date: | July 20
|
| Settlement date: | July 27
|
| Ratings: | Moody’s: Ba3
|
| S&P: BB-
|
| Distribution: | Regulation S
|
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