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http://www.businessweek.com/news/2012-07-01/beijing-jingneng-clean-energy-to-sell-bonds-to-repay-bank-loans

Bloomberg News

Beijing Jingneng Clean Energy to Sell Bonds to Repay Bank Loans

July 01, 2012

Beijing Jingneng Clean Energy Co. plans to sell 3.6 billion yuan ($567 million) of bonds tomorrow to repay bank loans, according to data compiled by Bloomberg.

The company will sell 2 billion yuan of three-year notes and 1.6 billion yuan of five-year bonds in the domestic bond market, the data show. A total of 2.5 billion yuan will be used to repay debt while the remainder will be used for working capital, according to its prospectus on Bloomberg.

The company, a unit of state-owned Beijing Energy Investment Holding Co., is rated AAA by China Lianhe Credit Rating Co., according to the prospectus.

To contact Bloomberg News staff for this story: Henry Sanderson in Beijing at hsanderson@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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