Phoenix New Media Hong Kong shares | China Water (00855) announced that the company has issued an additional US $150 million of 4.85% preferred notes due in 2026, which will be merged with the US $200 million of 4.85% preferred notes due in 2026 on May 18, 2021 to form a single tranche.
According to the announcement, the net proceeds from the issuance of additional notes will be used to repay 2017 bills and a number of other debts as well as to provide working capital. Limited to the above, the company intends to use all or part of the net proceeds from the sale to finance or re-finance eligible green projects, especially water supply projects, in accordance with its green financing framework.