By Marisa Wong
Morgantown, W.Va., Nov. 16 – Far East Horizon Ltd. announced that its wholly owned subsidiary, International Far Eastern Leasing Co., Ltd., had issued RMB 2 billion of 3.85% five-year bonds on Nov. 12.
Far Eastern Leasing previously registered to issue RMB 3 billion of corporate bonds in China. The subsidiary planned to issue the bonds in tranches within two years of Oct. 30.
UBS Securities Co. Ltd. is the lead underwriter and bookrunner with Industrial Securities Co., Ltd. as joint underwriter.
Proceeds will be used primarily to repay bank loans.
Far East Horizon is a financial leasing unit of Sinochem Group, which is a Hong Kong-based business conglomerate with interests in agriculture, energy, chemicals, real estate and finance.
| Issuer: | International Far Eastern Leasing Co., Ltd.
|
| Issue: | Corporate bonds
|
| Amount: | RMB 2 billion
|
| Maturity: | Five years
|
| Coupon: | 3.85%
|
| Underwriters: | UBS Securities Co. Ltd. (lead) and Industrial Securities Co., Ltd. (joint)
|
| Settlement date: | Nov. 12
|
| Rating: | Dagong Global Credit Rating Co., Ltd.: AAA
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