Jiangsu Fangyang Holdings Co., Ltd., has announced the launch of a USD150 million green bond issuance through its subsidiary, Haichuan International Investment Co., Ltd. The 5.70% Guaranteed Green Bonds due 2027 are set to be listed on The Stock Exchange of Hong Kong Limited, with trading expected to commence around September 30, 2024.
The bonds, which are unconditionally and irrevocably guaranteed by Jiangsu Fangyang Holdings, carry an interest rate of 5.70% and are classified as fixed-rate, senior unsecured guaranteed green bonds.
The ISIN of this bond is XS2906169219. The term of this bond is 3-year. Its issue date is Sep 27, 2024 and maturity date is Sep 27, 2027. The issue price is 100% of face value. The coupon rate is 5.70%. Interest will be repaid semi-annually on Mar 27 and Sep 27 each year. Issue amount is USD 150 mn. There is put option in case of change of control and the put price is 101% of face value.
The funds raised from this issuance will be allocated to refinancing existing offshore debt in accordance with the green finance framework.
Haitong International is serving as the Sole Global Coordinator, Joint Lead Manager, and Joint Bookrunner for the issuance. Haitong International also acts as the Sole Green Structuring Adviser.
This green bond issuance marks a significant step for Jiangsu Fangyang Holdings in its commitment to sustainable finance and aligns with global efforts to promote environmentally friendly practices and projects. The company aims to utilize the proceeds to fund green projects and contribute to the green economy.