Beijing Holdings Water Group (00371) announced that the company completed issuing the second instalment of 2024 medium-term notes to eligible investors on April 18, 2024. The total principal amount issued for the 2024 second issue of medium-term notes is RMB 500 million, and the term is 5+N years. The 2024 second-issue medium-term notes all last for a long time before the company redeems them, and expire when the company agrees to redeem them in accordance with the terms of issue.
According to the bookkeeping filing results, the coupon interest rate for the first five interest-bearing years of the 2024 second medium-term note was 2.68% per year, and remained unchanged during the first five interest-bearing years. The end of the fifth interest-bearing year is the first coupon rate reset date. Starting from the sixth interest-bearing year, the coupon interest rate is reset every five years.
The date on which each coupon interest rate is reset is the redemption date. The company has the right to choose to redeem the 2024 Second Term Note with interest payable at face value plus interest (including all deferred interest and its fruits (if any)) on the first face rate reset date of the 2024 Second Term Note and each subsequent interest payment date.