China Everbright Water says it has completed the issuance of the second tranche of medium term notes to institutional investors in the inter-bank bond market in mainland China.
The second tranche has a principal amount of RMB1 billion ($204.8 million) and is issued by the company itself.
The second tranche of notes were fully subscribed by the institutional investors with a maturity period of three years, an interest rate of 3.75% and a subscription rate of 1.97 times.
The proceeds of the notes will be used for the working capital of the company’s subsidiaries.
The second tranche medium term notes and China Everbright Water had each been given credit ratings of “AAA” by Shanghai Brilliance Credit Rating & Investors Service.
Bank of China and Guosen Securities acted as the underwriters of the second issuance.
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In April 2020, Everbright Water received the notice of registration acceptance from the National Association of Financial Market Institutional Investors of the People’s Republic of China, to issue medium term notes in single or multiple tranches to institutional investors.
The notes have a registered principal amount of RMB3 billion, with a validity period of two years from April 24, 2020.
Shares in China Everbright closed 0.5 cent higher or 2.1% up at 24.5 cents on Jan 14.
