Southern Power Company has issued €1.1bn ($1.2bn) worth of senior notes under two public offerings to fund its renewable projects.
This subsidiary of Southern Company offered a 1% series 2016-A senior notes, which are due 20 June 2022 for gross proceeds of €600m ($675m). It also offered 1.85% series 2016-B senior notes, which are due 20 June 2026, for gross proceeds of €500m ($562.46m).
Interest on the notes is expected to be paid annually starting from 20 June 2017.
Sinohydro Corporation, China Railway Group, and Mag Energy International have agreed to collaborate for the development of a 240MW hydropower plant in the southeastern Democratic Republic of Congo.
China Railway Group and Sinohydro Corporation have also agreed to invest approximately $600m in the project.
Consolidated Edison Company of New York has issued 3.85% series 2016-A debentures, which are due 15 June 2046 for gross proceeds of $550m in a public offering to pay its short-term debt and for other corporate purposes.
The offering is expected to close on 17 June 2016 and the interest is expected to be paid semi-annually on 15 June and 15 December of each year, commencing from December, 2016.
Abu Dhabi National Energy Company PJSC (TAQA) has agreed to issue 3.625% and 4.375% senior notes for gross proceeds of $500m each. These are due in June 2021 and June 2026.
Proceeds from the offerings will be used to repay its $1bn bonds, which are maturing in October 2016, as well as for other corporate purposes.
BNP Paribas, Citigroup, First Gulf Bank PJSC, HSBC Holdings, National Bank of Abu Dhabi, and Societe Generale are acting as financial advisors.