Electric vehicle manufacturer BYD plans to raise Rmb1bn (US$144.7m) from five-year Green bonds, which will be issued off of a Rmb10bn Green bond programme registered with regulators.
Books are due to open on June 11. Proceeds will be used to manufacture new energy vehicles and for other general corporate purposes.
Ping An Securities and Yingda Securities are joint underwriters. Lianhe Credit Rating has assigned a AAA rating to both the issuer and the bonds.
The issuer has a call option to buy back the bonds and investors have a put option to sell the bonds to the issuer, both at par, on June 14 2022. There is an optional coupon step-up at the discretion of the issuer, also effective from June 14 2022.
Source Nasdaq