Panda Green Energy Group Limited Announces Payment for Redemption of Outstanding $350,000,000 8.25% Senior Notes Due 2020
January 24, 2020 at 09:06 am
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Reference is made to the announcements of Panda Green Energy Group Limited dated 19 January 2017, 21 February 2017, 16 December 2019, 2 January 2020 and 15 January 2020 in respect of the $350,000,000 8.25% senior notes due 2020 issued by the Company (the 'Existing Notes') and the exchange offer in respect of the Existing Notes. Unless otherwise defined, capitalized terms used herein shall have the same meaning as those defined in the announcement of the Company dated 15 January 2020. The board of Directors wishes to announce that the Existing Notes will mature on 25 January 2020 and payment has been made by the Company to redeem the Existing Notes (together with all accrued and unpaid interests) which have not been tendered and accepted for exchange under the Exchange Offer. The redemption of all the Existing Notes was funded by the issue of the Exchange Notes under the Exchange Offer and proceeds from the issue of $260,000,000 8% senior notes due 2022. Upon full redemption of the Existing Notes, the Existing Notes will be cancelled and the Group will be discharged from all obligations under and in respect of the Existing Notes.
Beijing Energy International Holding Co Ltd, formerly Panda Green Energy Group Ltd, is an investment holding company principally engaged in solar power plants businesses. The Company is principally engaged in development, investment, operation and management of solar power plants and other renewable energy projects. The renewable energy projects include photovoltaic, wind power, hydropower and other clean energy investment operations. The Company's new energy projects cover China and some overseas regions, including Inner Mongolia, Qinghai, Ningxia, Shanxi, Hubei, Xinjiang, Gansu, Yunnan, Shandong, Jiangsu, Hebei, Guangdong and other places.