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The first show of overseas capital market in Ningde era: the successful issuance of 1.5 billion US dollars of overseas bonds
Sep 14,2020 14:27CST
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SMM: on the evening of September 12, Ningde Times officially announced that its two issues of $1.5 billion overseas senior dual-term fixed rate bonds had been subscribed for more than $13.5 billion on September 10.

It is reported that this issue has a guarantor rating of Baa1/BBB+/BBB+ (Moody's / S & P / Fitch) and a debt rating of Baa1/BBB+/- (Moody's / S & P / Fitch). The five-year and 10-year financing amounts to US $1 billion and US $500m, with coupons of 1.875% and 2.625%, respectively, and pricing spreads of 165bp and 200bp, which are 50 basis points and 55bp lower than the initial price guidelines, respectively, and the final order book exceeds US $13.5 billion. Oversubscribed by more than 9 times.

This successful bond issue is the first show of the overseas capital market in the Ningde era, which will further broaden the company's financing channels, optimize the financing structure, meet the company's business development needs, help open up overseas markets, and provide a strong guarantee for the realization of the global strategic layout.

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