BONDS: Longyuan Power To Launch First Bond From A Wind Farm
Hong Kong listed China Longyuan Power Group will conduct bookbuilding for a Rmb1.6bn (US$229m) seven-year non-put five fixed-rate enterprise bonds on February 9. Indications are between 2.19% and 2.69% over the one-year Shibor, meaning 4.52%-5.02% in nominal terms. UBS Securities will lead the deal from the largest wind farm operator in Asia. The issue which won an approval from the National Development & Reform Commission on January 29 has rarity value as it is also the first domestic bond issue from a wind power supplier in China.
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