Published on 9/28/2023 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: Zhangzhou Jiulongjiang prices RMB 2.13 billion 4.2% sustainable bonds due 2026 at par
By William Gullotti
Buffalo, N.Y., Sept. 28 – Zhangzhou Jiulongjiang Group Co., Ltd. priced RMB 2.13 billion of 4.2% United Nations sustainable development goals bonds due 2026 (Lianhe: BBB+) at par, according to a listing notice and an offering circular on Thursday.
Guotai Junan International, Industrial Bank Co., Ltd., Hong Kong Branch, Bank of Communications, CEB International, China Citic Bank International, China International Capital Corp., China Industrial Securities International, Citic Securities, China Securities International, CNCB Capital, China Zheshang Bank Co., Ltd. (Hong Kong Branch), GF Securities, Huatai International, Hua Xia Bank Co., Ltd., Hong Kong Branch, Luso Bank Ltd., Shanghai Pudong Development Bank Hong Kong Branch, SPDB International and CMBC Capital are the joint lead managers and joint bookrunners, with Guotai and Industrial Bank also acting as joint global coordinators.
Guotai Junan is also serving as United Nations sustainable development goals bonds structuring adviser.
Proceeds will be used for eligible projects that will deliver environmental and/or social benefits in accordance with the United Nations Sustainable Development Goals Framework.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective Sept. 28.
The company is based in Zhangzhou, China, and manufactures medicines, daily necessities, cosmetics, machines and food products.
| Issuer: | Zhangzhou Jiulongjiang Group Co., Ltd.
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| Amount: | RMB 2.13 billion
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| Issue: | United Nations sustainable development goals bonds
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| Maturity: | Sept. 27, 2026
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| Bookrunners: | Guotai Junan International, Industrial Bank Co., Ltd., Hong Kong Branch, Bank of Communications, CEB International, China Citic Bank International, China International Capital Corp., China Industrial Securities International, Citic Securities, China Securities International, CNCB Capital, China Zheshang Bank Co., Ltd. (Hong Kong Branch), GF Securities, Huatai International, Hua Xia Bank Co., Ltd., Hong Kong Branch, Luso Bank Ltd., Shanghai Pudong Development Bank Hong Kong Branch, SPDB International and CMBC Capital
|
| Structuring adviser: | Guotai Junan International
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| Trustee: | HSBC Ltd.
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| Counsel to issuer: | Linklaters (England), Junzhi Law Firm (China)
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| Counsel to underwriters: | Freshfields Bruckhaus Deringer (England), JunHe LLP (China)
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| Coupon: | 4.2%
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| Price: | Par
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| Yield: | 4.2%
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| Call option: | At par for tax reasons
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| Put options: | At 101 upon change of control; at par if no-registration event occurs
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| Pricing date: | Sept. 20
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| Issue date: | Sept. 27
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| Listing date: | Sept. 28
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| Rating: | Lianhe: BBB+
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| Distribution: | Regulation S
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| ISIN: | HK0000951159
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