The Board of Beijing Enterprises Holdings Limited announced that on 17 September 2020, the Company and the Issuer entered into a Subscription Agreement with the Managers in connection with the Bonds Issue. The Issuer intends to on-lend the net proceeds from the subscription of the Bonds to the Company for refinancing existing offshore indebtedness which was incurred in connection with the funding of the Eligible Green Assets described under the Company's Green Finance Framework and in accordance with applicable laws and regulations. Subject to certain conditions to completion, the Issuer will issue the Bonds in an initial aggregate principal amount of EUR 500,000,000 which will mature on 24 September 2025 unless redeemed prior to their maturity pursuant to the terms thereof. At maturity, the Bonds are payable at their principal amount plus accrued interest thereon. The Bonds will bear interest at a rate of 1.00% per annum, payable annually in arrear in equal instalments on 24 September in each year, commencing on 24 September 2021.