By Wendy Van Sickle
Columbus, Ohio, Oct. 18 – China’s Dongfeng Motor (Hong Kong) International Co., Ltd. priced €600 million of guaranteed notes (A2/A) in two tranches on Tuesday, according to a notice.
The notes are guaranteed by Dongfeng Motor Group Co. Ltd.
The issuer priced €500 million of 1.15% notes due 2021 at 99.947.
The company also priced €100 million of 1.606% notes due 2023 at par.
Bank of China Ltd., Deutsche Bank AG, London Branch, HSBC, ICBC International Securities Ltd., Industrial and Commercial Bank of China (Europe) SA, BNP Paribas, Bank of Communications Co., Ltd. Hong Kong Branch and Societe Generale were the bookrunners for the Regulation S deal.
Bank of China, BNP Paribas, Deutsche Bank, HSBC, Societe Generale CIB, Bocom, CCB International, ICBC (Asia) and Shanghai Pudong Development Bank were the bookrunners for the Regulation S deal.
The proceeds will be used to refinance debt and for general corporate purposes.
The automobile manufacturer is based in Wuhan, China.
| Issuer: | Dongfeng Motor (Hong Kong) International Co., Ltd.
|
| Guarantor: | Dongfeng Motor Group Co. Ltd.
|
| Amount: | €600 million
|
| Description: | Guaranteed notes
|
| Bookrunners: | Bank of China Ltd., Deutsche Bank AG, London Branch, HSBC, ICBC International Securities Ltd., Industrial and Commercial Bank of China (Europe) SA, BNP Paribas, Bank of Communications Co., Ltd. Hong Kong Branch and Societe Generale
|
| Call option: | At par plus make-whole amount
|
| Trade date: | Oct. 16
|
| Settlement date: | Oct. 22
|
| Ratings: | Moody's: A2
|
| S&P: A
|
| Distribution: | Regulation S
|
|
|
| 2021 notes
|
| Amount: | €500 million
|
| Maturity: | 2021
|
| Coupon: | 1.15%
|
| Price: | 99.947
|
|
|
| 2023 notes
|
| Amount: | €100 million
|
| Maturity: | 2023
|
| Coupon: | 1.606%
|
| Price: | Par
|
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