Zhejiang Energy debuts $300m bond

Zhejiang’s largest power generator raises the first bond from a Chinese provincial government, riding on China’s better-than-expected manufacturing data.

Zhejiang Energy debuts $300m bond

Zhejiang Provincial Energy sold a $300 million three-year bond on Tuesday, raising it hot on the heels of China’s better-than-expected manufacturing numbers.

The offering, which is Zhejiang Provincial Energy’s inaugural issuance in international debt capital markets, was issued by its subsidiary Zhejiang Energy Group. The Reg S-registered bond was supported by keepwell and liquidity support deeds, and an equity interest purchase undertaking from the parent. As such, it has an expected ratings of A2...

To continue reading, please login or register for free

Click for more on: zhejiang energy | energy | china | investment grade | bonds | soe

Print Edition

FinanceAsia Print Edition