Basic Information of the Bond
- Issuer: Tianjin Green Power Group Co., Ltd.
- Bond Name: Tianjin Zhonglv Electric Investment Co., Ltd. 2023 Carbon Neutral Green Corporate Bond (Phase I) for Professional Investors.
- Total Issuance Amount: RMB 2 billion.
- Issuance Price (per bond): RMB 100.
- Bond Term: 3 years.
- Bond Interest Rate: 3.37%.
- Interest Start Date: December 29, 2023.
- Interest Payment Date: December 29 of each year from 2024 to 2026 (if it falls on a legal holiday or weekend, it will be postponed to the next trading day, and no interest will accrue during the postponement).
- Redemption Date: December 29, 2026 (if it falls on a legal holiday or weekend, it will be postponed to the next trading day, and no interest will accrue during the postponement).
- Repayment Method: Simple interest calculation. Interest is paid annually, with the principal repaid at maturity. The interest for the last period will be paid together with the principal. The payment of principal and interest will be based on the list of bondholders as per the regulations of the securities registration agency, and specific arrangements will be handled according to the relevant regulations of China Securities Depository and Clearing Co., Ltd. Shenzhen Branch.
- Credit Rating and Rating Agency: The issuer's credit rating is AAA, with a stable outlook, as assessed by China Lianhe Credit Rating Co., Ltd. The bond's rating is also AAA.
- Guarantee Method: This bond is unsecured.
Major Matters of This Bond
Tianjin Green Power Group Co., Ltd. (the "Issuer" or "Company") publicly issued the "Tianjin Zhonglv Electric Investment Co., Ltd. 2023 Carbon Neutral Green Corporate Bond (Phase I)" (hereinafter referred to as "23 Green Power G1" or "This Bond") on December 29, 2023.
Due to changes in the issuer's funding needs arising from project investments, and in line with the principle of optimizing the company's debt structure and saving financial costs, the issuer intends to change the use of the funds raised from this bond. The specific situation is as follows:
Original Planned Use of Funds
- Project Construction Investment
RMB 1.65 billion of the funds raised from this bond was originally planned for investment in new energy power generation projects. The basic situation of the projects is as follows:
| Project Name | Installed Capacity | Construction Entity | Project Location | Total Investment | Source of Funds | Amount to be Used from This Bond |
|---|---|---|---|---|---|---|
| Nierke 400 MW Wind and Solar Project | Wind: 80 MW, Solar: 320 MW, Total: 400 MW | Nierke County Green Power Energy Co., Ltd. | Ili Kazakh Autonomous Prefecture, Nierke County | 1,494,394.68 | Self-raised capital 20%, Bank loans 80% | 650,000.00 |
| Ruoqiang 400 MW Solar Project | Solar: 400 MW | Ruoqiang County Green Power Energy Co., Ltd. | Bayingol Mongol Autonomous Prefecture, Ruoqiang County | 1,570,683.48 | Self-raised capital 20%, Bank loans 80% | 1,000,000.00 |
| Total | 3,065,078.16 | 165,000.00 |
Note 1: The total investment amount is as listed in the project filing and approval documents.
Note 2: The issuer will ensure that self-raised capital is in place according to the actual construction progress and funding needs of the projects.