BEWG issued panda bonds and green panda bonds with the total amount of about RMB 4.7 billion 2016-08-01
On July 26, 2016, BEWG (00371.HK) issued Panda bonds with the amount of no more than RMB 4.7 billion through Shanghai Stock Exchange after approved by the China Securities Regulatory Commission. According to the notice of BEWG: the first issue of Panda bonds is RMB 4 billion, of which, the 5-year fixed-rate bonds is 1.8 billion, and the final coupon rate is 3%, with the option right for the issuer’ adjustment on the coupon rate and the investor’s option right on put-back at the end of the third year; the 7-year fixed-rate bonds is RMB 2.2 billion, and the final coupon rate is 3.33%, with the option right for the issuer’ adjustment on the coupon rate and the investor’s option right on put-back at the end of the fifth year. The second issue of Panda bonds is RMB 0.7 billion, belonging to the 8-year fixed rate bonds, and the final coupon rate is 3.25%, with the he option right for the issuer’ adjustment on the coupon rate and the investor’s option right on put-back.
The first issue of bonds from BEWG is the second Panda bonds issued in public in the Chinese market, and is also the Panda public offering bonds with the largest amount up to now, achieving the lowest coupon rate among the equivalent bonds; the second issue of bonds from BEWG is the first green Panda bonds publically issued the domestic market, with the overseas as the major part, achieving a new low coupon rate.
The annual report shows that as of December 31, 2015, BEWG’s annual operation revenue is more than 13.5 billion Hong Kong dollars, with the year-on-year growth of 51%, and the cumulative profit attributable to shareholders is over 2.4 billion Hong Kong dollars, with an increase of 37%. As a leading enterprise in China's environmental protection industry, BEWG has carried out the strategy of developing the second pioneering business in recent years, grasping the high-speed growth opportunities of the market to increase the incremental business and adhering to the coordination of the two major industries, i.e. the urban water and the water environment development. The successful issuance of the bonds this time will help BEWG increase the operating capital and enable us to better serve China’s economic construction and environmental protection, so that more people enjoy the green, healthy and sustainable living environment services. At the same time, this will also help BEWG increase the recognition, credibility and influence of BEWG in the domestic capital market, and contributes the first case of green Panda bonds for the financing innovation of the domestic capital market.
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