BEIJING, Oct. 1, 2012 /PRNewswire-FirstCall/ -- Tri-Tech Holding Inc. (Nasdaq: TRIT), which provides turn-key water resources management, water and wastewater treatment, industrial safety and pollution control solutions, announced today that its it has completed a financing transaction underwritten by the Bank of Nanjing to issue corporate bonds of RMB 50 million (approximately $7.89 million). The transaction closed on September 26, 2012 and the company has received the proceeds of the financing.
According to the terms of the corporate bonds issued by Tri-Tech ( Beijing) Co. Ltd., a subsidiary of Tri-Tech Holding Inc., Tri-Tech will issue investors corporate bonds for capital of $7.89 million with a maturity of three years and a coupon of 6.2%. The Beijing Capital Investment & Guarantee Co. Ltd. ("Capital Guarantee") will guarantee the bonds.
Mr. Peter Dong, Tri-Tech Holding Inc. CFO, commented, "As one of the important diversification attempts to the company financing, this bond issuance will provide Tri-Tech with more capital flexibility to support our growth. Given the current valuation of Tri-Tech Holding in the capital market, we chose the corporate bonds instrument from domestic market and believe this will efficiently fund our operations on a non-dilutive manner that is in the best interests of our shareholders."The underwriter Bank of Nanjing conducted rigorous and comprehensive reviews of our company before agreeing to sign the Underwriting Agreement. We believe the bank's and investors' interest in these bonds reflects Tri-Tech's healthy financial status, our comprehensive business records, our visible profit growth and our favorable credibility with the banks. We believe the guarantee to the bond issuance from Capital Guarantee, a Beijing Credit Guarantee Association five-star rated guarantor enterprise for small and medium companies in Beijing, additionally highlights our good reputation in the water industry. We will continue to pursue multiple financing solutions from domestic banks to further strengthen and optimize our capital structure in support of our strong growth." About Bank of Nanjing
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