News Release
10 Aug 2021

Everbright Water Issues First Tranche of Super & Short-term Commercial Papers

Singapore and Hong Kong, 10 August 2021 – China Everbright Water Limited ("Everbright Water" or the "Company", stock codes: U9E.SG and 1857.HK) (中國光大水務有限公司), an environmental protection company focusing on water environment management, is pleased to announce that the Company has completed issuance of the first tranche of RMB-denominated super & short-term commercial papers ("SCPs"). The first tranche of SCPs ("First Tranche SCPs") were fully subscribed for by institutional investors in the national inter-bank bond market of mainland China ("Institutional Investors"), with a principal amount of RMB800 million, a maturity term of 120 days and an interest rate of 2.4%. The proceeds from the SCPs issuance will be used to replenish working capital of the Company's subsidiaries.

Everbright Water, as the issuer of the First Tranche SCPs, has been given a credit rating of "AAA" by Shanghai Brilliance Credit Rating & Investors Service Co., Ltd. China Bohai Bank Co., Ltd. acts as lead underwriter and bookrunner of the SCPs issuance, and Bank of Ningbo Co., Ltd. acts as joint lead underwriter.

Everbright Water received the notice of registration acceptance in March 2021 from the National Association of Financial Market Institutional Investors of the People's Republic of China, to issue RMB-denominated SCPs in single or multiple tranches to the Institutional Investors. The SCPs have a registered principal amount of RMB2.5 billion, with a maturity term not more than 270 days for each tranche.

The issuance of the Frist Tranche SCPs received positive market responses, as the Company had well-timed the issuance window period. Since 2020, Everbright Water has, at different stages, completed the issuance of its first asset-backed securities and two tranches of the medium-term notes, all of which recorded satisfying results. The issuance of the First Tranche SCPs marks the Company's attempts in diversifying its financing channels, which helps further optimise its financing structure and keep its financial costs within a reasonable range. In the future, Everbright Water will continue building up relevant experience and continuously explore new financing channels. It will make efficient use of resources from the capital market according to the Company's development pace and needs, to offer long-term and strong capital security for the future development.