CATL has successfully priced a 500 million U.S.-dollar five-year offshore bond issuance, at a coupon rate of 1.5%. The transaction landed at UST+85, representing a 40 basis-point tightening from the initial price guidance (UST+125). The peak order book exceeded 6.4 billion U.S. dollars, translating to an oversubscription of 12.8 times. The company's credit ratings are Baa1/BBB+/BBB+ (Moody's/S&P/Fitch) and the bonds are rated Baa1 by Moody's.
The successful issuance of the bonds once again demonstrates CATL's excellent credit profile to the international capital market and will further enhance CATL's ability to secure low-cost overseas funding and help realize its global strategic goals.