New Hope Group Co., Ltd. will issue Reg S, 3-year, RMB-denominated senior unsecured sustainability-linked bonds with credit enhancement on Apr 3, 2024 with ISIN HK0000998218. The terms are as follows:
Issuer: New Hope Group Co., Ltd.
SBLC Provider: Agricultural Bank of China Limited Sichuan Branch
Type: Fixed-rate, senior unsecured sustainability-linked bonds with credit enhancement
Issue Rule: Reg S
Issue Amount: RMB 976 mn
Term: 3 years
Initial Guidance Rate: Around 3.8%
Final Guidance Rate: 3.3%
Coupon Rate: 3.3%
Yield: 3.3%
Issue Price: 100%
Settlement Date: April 3, 2024
Maturity Date: April 3, 2027
Use of Proceeds: Refinancing existing domestic debts, purchase of raw materials, and general corporate purposes in accordance with the framework for green, social, sustainable, and sustainability-linked bonds.
Change of Control Put: 100%
Other Terms: Listed on the Hong Kong Stock Exchange; minimum denomination/increment of RMB 1 mn/RMB 10,000; governed by English law
Sustainability Performance Target: Total electricity generation of all photovoltaic power stations (from January 1 to December 31 each year), with the first observation year (2024) at 9,800,000 kWh; and the second observation year (2025) at 9,900,000 kWh
Trigger Event: A trigger event is considered to have occurred on the verification date if (a) the issuer fails to publish a verification report on or before the verification date, or (b) in certain exceptions, if the external verifier confirms in the verification report for the relevant observation year that the annual sustainability performance target has not been met
Joint Global Coordinators, Joint Bookrunners, and Joint Lead Managers: ABC International, CICC, Fosun International Securities (B&D)
Sustainable Structure Advisor: Fosun International Securities, CICC
Clearing Institution: Central Moneymarkets Unit linked to Clearstream/Euroclear
ISIN: HK0000998218
New Hope Group is a leading animal feed and husbandry company in China.