SG brief: China Everbright Water

A water droplet with ripples. Photo by Jimmy Chang on UnsplashA water droplet with ripples. Photo by Jimmy Chang on Unsplash

China Everbright Water has issued the first tranche of its perpetual medium-term notes to institutional investors in China’s national inter-bank bond market, with the offering having a principal of CNY700 million and an interest rate of 3.30 percent, the water-management company said in a filing to SGX Monday.

The tranche was 2.36 times subscribed, the company said, adding the proceeds would be used to repay due debt.

“The successful issuance of the first tranche perpetuals is another step that the company takes to diversify its financing channels, following its issuance of corporate bonds, asset-backed securities, medium-term notes, and super and short-term commercial papers in recent years,” Hu Yanguo, executive director and chairman of China Everbright Water, said in the statement.