Bond Factsheet
CHGRID 5.628% 23Oct2031 Corp (AUD)
State Grid Europe Development (2014) Public Limited
Indicative
Full Lot
Bid Price 100.078
Change in Bid Price
-
Bid Yield (%) 5.608 %
Change in Bid Yield
-
Ask Price 100.272
Change in Ask Price
-
Ask Yield (%) 5.563 %
Change in Ask Yield
-
Indicative price as of 16 Oct 2026, 4:19pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
State Grid Europe Development (2014) Public Limited
Guarantor
State Grid International Development Limited
Announcement Date
16 Oct 2026
Issue Date
23 Oct 2026
Maturity Date
23 Oct 2031
Years to Maturity / Next Call
5.015 / 4.932
Modified Duration
4.198 @ 16 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.628
Coupon Type
Fixed
Annual Coupon Rate
5.628
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Reference Rate
-
ISIN
AU3CB0341048
CUSIP
DR7604223
Bond Currency
AUD
Total Issue Size
500,000,000
Min. Investment Quantity (Nominal)
AUD 200,000
Incremental Quantity (Nominal)
AUD 10,000
Bond Type
Corporate
Bond Sector
Utilities
Bond Sub Sector
Electric Utilities
Issuer Credit Rating (S&P/ Fitch)
***/ N.R
Bond Credit Rating (S&P/ Fitch)
***/ A
Shariah Compliant
No
Exchange Listed
HKEX
Issuer Call
If Issuer Call Option is specified hereon, the Issuer may, on giving not less than 30 nor more than 60 days’ irrevocable notice to the Noteholders and in writing to the Trustee and the Issuing and Paying Agent (or such other notice period as may be specified hereon) redeem all or, if so provided, some of the Notes on any Optional Redemption Date. Any such redemption of Notes shall be at their Optional Redemption Amount specified hereon (which may be the Early Redemption Amount (as described in Condition 6(b) above)), together with unpaid interest accrued to (but excluding) the relevant Option Redemption Date. Any such redemption must relate to Notes of a nominal amount at least equal to the Minimum Redemption Amount to be redeemed specified hereon and no greater than the Maximum Redemption Amount to be redeemed specified hereon.
Par Call Date: 1-month Par Call
Change Control Put
At any time following the occurrence of a Change of Control Triggering Event (as defined below), the holder of any Note will have the right, at such holder’s option, to require the Issuer to redeem all but not some only of that holder’s Notes on the Put Settlement Date (as defined herein) at the Change of Control Redemption Amount, together with unpaid interest accrued to (but excluding) such Put Settlement Date.
a ‘‘Change of Control’’ occurs when: (i) the government of the PRC (including SASAC and any other subdivision or any authority of the government of the PRC) and together with any person or entity controlled by the government of the PRC (such person, entity and the government of the PRC are collectively referred to as ‘‘PRC Government Persons’’, each a ‘‘PRC Government Person’’) ceases to Control, directly or indirectly, or in combination (through Controlled entities), SGCC; (ii) the Guarantor consolidates with or merges into or sells or transfers all or substantially all of its assets to any other person or persons, acting together, except where such person(s) is/are Controlled, directly or indirectly, by a PRC Government Person; (iii) SGCC at any time and for any reason ceases to, directly or indirectly, Control the Guarantor; or (iv) the Guarantor at any time and for any reason ceases to, directly or indirectly, own or control 100 per cent. of the Voting Rights of the issued share capital of the Issuer;
‘‘Change of Control Triggering Event’’ means a Change of Control, provided that, in the event that the Notes are, on the Rating Date, rated Investment Grade by two or more Rating Agencies, a Change of Control Triggering Event shall mean the occurrence of both a Change of Control and a Rating Decline (as defined below). No Change of Control Triggering Event will be deemed to have occurred in connection with any particular Change of Control unless and until such Change of Control has actually been consummated;
‘‘Control’’ means (where applicable): (i) the ownership or control of more than 50 per cent. of the Voting Rights of the issued share capital of a person or (ii) the possession, directly or indirectly, of the power to nominate or designate more than 50 per cent. of the members then in office of a person’s board of directors or other governing body, whether obtained directly or indirectly, and whether obtained by ownership of share capital, the possession of Voting Rights, contract or otherwise or (iii) the possession, directly or indirectly, of the power to direct or cause the direction of the management policies of a person. For the avoidance of doubt, a person is deemed to Control another person so long as it fulfils one of the three foregoing requirements and the terms ‘‘Controlling’’ and ‘‘Controlled’’ have meanings correlative to the foregoing;
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