China Shuifa Singyes Energy (HKG:0750) completed the issue of 100 million yuan of 3.45% bonds with a term of five years, a Tuesday filing with the Hong Kong bourse said.

The curtain wall installer will be entitled to a coupon rate adjustment option at the end of the third year, while the bondholders will have a sell-back option.

The issue is the first tranche in the proposed issue of up to 1.5 billion of bonds. The firm plans to selectively issue the remaining bonds with a principal amount of 1.4 billion yuan in the second half, depending on market conditions.