By William Gullotti
Buffalo, N.Y., Nov. 15 – China’s Rizhao Xinlanshan Caijin Investment Group Co., Ltd. priced $30 million of 9½% bonds due 2026 at par, according to a listing notice with an appended offering circular on Wednesday.
Golden Rich Securities, Shenwan Hongyuan (H.K.), Waton Securities International Ltd. and Carlyon Securities are the joint lead managers and joint bookrunners for the Regulation S offering, with Golden Rich and Shenwan Hongyuan also acting as joint global coordinators.
Proceeds will be used for project funding and to replenish working capital.
Listing is expected on the Hong Kong Exchange effective Nov. 15.
Located and operating in Lanshan District of Rizhao City in China’s Shandong Province, the issuer is the core state-owned asset operation and construction entity.
| Issuer: | Rizhao Xinlanshan Caijin Investment Group Co., Ltd.
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| Amount: | $30 million
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| Issue: | Bonds
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| Maturity: | Nov. 14, 2026
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| Bookrunners: | Golden Rich Securities, Shenwan Hongyuan (H.K.), Waton Securities International Ltd. and Carlyon Securities
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| Trustee: | CMB Wing Lung (Trustee) Ltd.
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| Counsel to underwriters: | DeHeng Law Offices (Hong Kong) LLP (England, Hong Kong), Zhonglun W&D Law Firm (Hangzhou) (China)
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| Coupon: | 9½%
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| Price: | Par
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| Yield: | 9½%
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| Call: | For taxation reasons at par plus interest
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| Puts: | At 101 plus interest for a change of control; at par plus interest for a no-registration event
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| Pricing date: | Nov. 9
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| Issue date: | Nov. 14
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| Listing date: | Nov. 15
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| Distribution: | Regulation S
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| ISIN: | XS2719097219
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