New Issue: China’s Chang Development sells $230 million 4.3% three-year bonds

By William Gullotti

Buffalo, N.Y., Sept. 9 – Chang Development International Ltd. issued $230 million of 4.3% guaranteed bonds due 2024, according to a listing notice on Thursday.

Parent company Changchun Urban Development & Investment Holdings (Group) Co., Ltd. is the guarantor.

CMBC Capital, Hua Xia Bank Co., Ltd., Hong Kong Branch, CCB International, HSBC, Guosen Securities (HK), ABC International, Bank of China, CEB International, Guotai Junan International, Mizuho Securities, Huatai International, Guoyuan Capital, CNCB Capital, Bank of East Asia, Ltd. and Sheng Yuan Securities are the joint lead managers and joint bookrunners.

CMBC Capital, Hua Xia Bank, CCB International, HSBC and Guosen Securities are also the joint global coordinators.

The Regulation S bonds are expected to be listed on the Stock Exchange of Hong Kong effective Sept. 10.

Changchun Urban offers infrastructure construction services.

Issuer:	Chang Development International Ltd.
Guarantor:	Changchun Urban Development & Investment Holdings (Group) Co., Ltd.
Issue:	Guaranteed bonds
Amount:	$230 million
Maturity:	April 27, 2024
Bookrunners:	CMBC Capital, Hua Xia Bank Co., Ltd., Hong Kong Branch, CCB International, HSBC, Guosen Securities (HK), ABC International, Bank of China, CEB International, Guotai Junan International, Mizuho Securities, Huatai International, Guoyuan Capital, CNCB Capital, Bank of East Asia, Ltd. and Sheng Yuan Securities
Coupon:	4.3%
Pricing date:	Sept. 1
Listing date:	Sept. 10
Distribution:	Regulation S

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