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FINWIRES

China Everbright to Cut Coupon Rate on 1 Billion Yuan Bonds

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China Everbright Water (SGX:U9E) plans to lower the coupon rate on its 1 billion yuan 2023 third tranche medium-term bonds to 1.76% from 2.82%, effective Aug. 23, after exercising its interest rate adjustment option.

Holders of the notes may exercise a resale option from Aug. 4 to Aug. 10, allowing them to sell the notes back to the company at 100 yuan per 100 yuan face value, according to a Monday Singapore Exchange filing.

The company said the 106-basis-point reduction in the coupon rate will take effect on Aug. 23, 2026, which also marks the exercise date for the resale option.

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