CSG Issues Its First Offshore US Dollar Bonds

New York City - China Southern Power Grid is pleased to announce the offering of its first, offshore US Dollar bonds.
The announcement was made here on April 27 at 12:50 a.m. (EDT) by Mr. Li Wenzhong, CFO of China Southern Power Grid (CSG).
According to Mr. Li, “the bonds, offered in distribution format of  Rule 144A and Regulation S, were issued within a narrow time window and in a challenging time period when the US Federal Reserve was expected to raise interest rates, important news was announced regarding France's 2017 Presidential Election and several central state-owned enterprises in China held road shows that when taken all together, distracted the attention of investors.”
He added that, “since April 19, the CSG roadshow team has held 27 road shows meetings with investors in five cities of four countries on three continents, travelling more than 20,000 kilometers.”
Mr. Li explained that China Southern Power Grid has, “impressed investors with its abundant experience in the power sector, professional management team, excellent financial performance, robust financial structure, strong technological and operational capability, persistent low-carbon and green development in the marketplace, attracting approximately 200 organizations to purchase its bonds.”
He added, “investors purchasing the bonds include PIMCO, the largest property management company in the world; the US state of Washington and Manulife Financial Corporation, one of the world's biggest insurance companies, based in Canada. These investors vary in geographical location and business sectors, such as banking, sovereign funds, property management, funds, insurance and private banking.”
In Year 2015, China Southern Power Grid obtained national sovereign credit ratings from three major international rating agencies.
“With the issue of its dollar-denominated bonds, CSG continues to offer investors a firm foundation of stability as it enters the global capital market. The offering of these bonds is a result of CSG's painstaking efforts over the years and the reflection of its continuous expansion.  All of these could not have come to fruition without the visionary leadership of Mr. Li Qingkui, Board Chairman and Mr. Cao Zhi'an, President of China Southern Power Grid; the dedication of CSG’s 30,000 staff as well as all the partners of CSG who have been our loyal friends throughout our company’s development,” said Mr. Li.
The issue of the bonds vividly illustrates CSG's exceptional performance in electrical production, operation and finance which have been lauded by the international investment community.
Such recognition has been key to China Southern Power Grid’s continual enhancement of its professional image in the international capital markets as the company deepens its relationships with global investor groups and expands its fundraising channels.
Mr. Li added that the issuance of the bonds, “will also inject more meaning and dynamics to CSG's accelerated global expansion and future integration into the international capital markets.”