New Issue: China’s Hengyang Urban Construction prices RMB 2 billion 4.86% notes due 2027

Chicago, Jan. 26 – Hengyang Urban Construction Investment Development Group Co., Ltd. listed RMB 2 billion of 4.86% notes due 2027, according to an offering circular.

The notes priced at par.

China Securities International Corporate Finance Co. Ltd. was the sole global coordinator.

CEB International Capital Corp. Ltd., China Citic Bank International Ltd., China Galaxy International Securities (Hong Kong) Co., Ltd., China Zheshang Bank Co., Ltd. (Hong Kong Branch), CMBC Securities Company Ltd., CNCB (Hong Kong) Capital Ltd., Essence International Securities (Hong Kong) Ltd., First Fidelity Capital (International) Ltd., Haitong Bank, Macau Branch, Industrial Bank Co., Ltd. Hong Kong Branch, Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, Shenwan Hongyuan Securities (H.K.) Ltd. and Waton Securities International Ltd. were the joint bookrunners and joint lead managers.

Proceeds will be used for general corporate purposes.

Listing for the bonds is expected on the Chongwa (Macao) Exchange.

The state-owned company is tasked with providing some of the main public utility services such as agent construction, land development and engineering construction. The Hengyang municipal government is the ultimate controller of the company.

Issuer:	Hengyang Urban Construction Investment Development Group Co., Ltd.
Amount:	RMB 2 billion
Issue:	Notes
Maturity:	Jan. 24, 2027
Bookrunners:	China Securities International Corporate Finance Co. Ltd. (global coordinator), CEB International Capital Corp. Ltd., China Citic Bank International Ltd., China Galaxy International Securities (Hong Kong) Co., Ltd., China Zheshang Bank Co., Ltd. (Hong Kong Branch), CMBC Securities Company Ltd., CNCB (Hong Kong) Capital Ltd., Essence International Securities (Hong Kong) Ltd., First Fidelity Capital (International) Ltd., Haitong Bank, Macau Branch, Industrial Bank Co., Ltd. Hong Kong Branch, Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, Shenwan Hongyuan Securities (H.K.) Ltd. and Waton Securities International Ltd.
Trustee:	China Citic Bank International Ltd.
Counsel to issuer:	Chong Guang Law Office
Counsel to underwriters:	Jun He Law Offices, Tian Yuan Law Firm
Coupon:	4.86%
Price:	Par
Yield:	4.86%
Call features:	Non-callable
Change of control:	At 101
Trade date:	Jan. 17
Settlement date:	Jan. 24
Distribution:	Regulation S
ISIN:	HK0000984556

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