Deals this week: China Singyes Solar Technologies and Maharashtra State Power Generation

9 February 2017 (Last Updated February 9th, 2017 18:30)

China Singyes Solar Technologies Holdings has announced its intention to raise funds through a private placement of senior notes to professional investors outside the US.

China Singyes Solar Technologies Holdings has announced its intention to raise funds through a private placement of  senior notes to professional investors outside the US.

Proceeds are intended to be used for repaying offshore debts, for general corporate purposes, and to deposit into an interest account for refinancing.

Based in Hong Kong, the issuing company manufactures and distributes renewable energy products and engages in the operation and maintenance of solarpower plants.

Maharashtra State Power Generation has announced its intention to form joint ventures over the next three years for the development of Indian solarpower plants, with a combined installation capacity of 2.5GW.

MahaGenco is owned by the state Government of Maharashtra, India.

The projects to be developed include 500MW capacity in MahaGenco-owned lands, 1,000MW on public-private partnership basis and private joint ventures, a 500MW solar project under the central government’s scheme, and 500MW on government lands.

Brookfield Renewable Partners has announced 11 public offerings of 10 million class A preferred limited partnership units, including an option for two million units for underwriters, to raise C$250m ($191.6m) in gross proceeds.

Unit holders will be entitled to receive 5% a year in cumulative quarterly fixed distribution up to 30 April 2022, while the distribution rate will be revised every five years thereafter.

Proceeds are intended to be used to repay debts and for general corporate purposes.

Based in Bermuda, Brookfield Renewable Partners operates renewable power plants.

Contact Energy intends to raise NZ$75m ($54.83m) in gross proceeds through a private placement of unsecured, unsubordinated fixed-rate bonds due 15 November 2022.

Oversubscriptions of up to NZ$25m ($18.27m) will be accepted optionally. The proceeds will be used to refinance the company’s bonds maturing 13 April 2017 and for general corporate purposes.

Tennessee Valley Authority has announced the pricing for its public offering of global power bonds, due 1 February 2027.

The bonds carry a coupon rate of 2.875% and will yield 2.884% on maturity. Gross proceeds of $1bn raised through the offering will be used to refinance the company’s existing debt and for other power system purposes.

Based in the US, Tennessee Valley Authority is an energy utility company.