China Water Affairs (00855.HK) announced that an additional US $150 million of 4.85 per cent senior notes due in 2026 will be merged with the US $200m of 4.85 per cent senior notes due in 2026 on May 18, 2021 to form a single tranche.
The issue price of the additional instrument is 97% of the principal amount of the additional instrument and is approved in principle for listing and quotation on the Singapore Exchange.
The net proceeds will be used to repay 2017 bills and certain other debts and to provide working capital. It is also proposed that, in accordance with its green financing framework, all or part of the money equivalent to the net proceeds from the sale will be used to finance or refinance eligible green projects, especially water supply projects.