China Everbright Water: Everbright Water issues second tranche of very short-term and short-term commercial papers

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Everbright Water issues second tranche of very short term and short term commercial paper

Singapore and Hong Kong, January 13, 2022 – China Everbright Water Limited (“Everbright Water” or the “Company”; stock codes: U9E.SG and 1857.HK) (中國 光大 水 務 有限公司), an environmental protection company focused on water management aquatic environment, is pleased to announce that the Company has finalized the issuance of the second tranche of Super & Short-term Commercial Papers (the “SCPs”) denominated in RMB. The second tranche of SCP (“Second Tranche SCP”) was fully subscribed by institutional investors in the mainland Chinese national interbank bond market (“Institutional Investors”), with a principal amount of RMB 1 billion, a maturity of 150 days and an interest rate of 2.5%. The proceeds from the issuance of the second tranche SCPs will be used to replenish the working capital of the Company’s subsidiaries.

Everbright Water, as the issuer of the second tranche PCS, has been assigned a credit rating of “AAA” by Shanghai Brilliance Credit Rating & Investors Service Co., Ltd. Meanwhile, China Bohai Bank Co., Ltd. acts as the principal underwriter and bookrunner of the second tranche SCP issue, and Bank of Ningbo Co., Ltd. acts as joint lead.

Everbright Water received the notice of acceptance of registration in March 2021 from the National Association of Financial Market Institutional Investors of the People’s Republic of China, to issue RMB denominated PCS in single or multiple tranches to institutional investors. SCPs have a registered principal amount of RMB 2.5 billion, with a maturity of no more than 270 days for each tranche. In August 2021, the Company finalized the issuance of the first tranche of SCP (“First Tranche SCP”), which were fully subscribed by Institutional Investors, with a principal amount of RMB 800 million, a maturity of 120 days and an interest rate of 2.4%. The proceeds from the issue of the First Tranche SCPs were used to replenish the working capital of the Company’s subsidiaries.

The issuance of the second tranche PCS reaffirms that Everbright Water has a good credit rating and excellent liquidity management capability. The issuance of SCP has effectively improved the liquidity of the Company. In addition, he helped the Company to further consolidate its diversified financing tools with various long and short term financing channels. Going forward, Everbright Water will continue to closely monitor changes in market trends and issue the remaining SCPs, as applicable, in order to provide flexible and reliable capital for the operation and development of the Company.

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China Everbright Water Ltd. published this content on January 13, 2022 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on January 13, 2022 05:30:04 AM UTC.

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