Chongqing International Logistics begins any-and-all, capped tender offers for two 2024 notes

By Marisa Wong

Los Angeles, Dec. 11 – Chongqing International Logistics Hub Park Construction Co., Ltd. is inviting noteholders to tender for purchase for cash (i) any and all of its outstanding $315 million 5.3% notes due 2024 (ISIN: XS2361085975) and (ii) up to $150 million maximum principal amount of its outstanding $500 million 4.3% notes due 2024 (ISIN: XS2050594238).

The issuer is offering a purchase price of par of $1,000 for both series, plus accrued interest.

Tendered 4.3% notes may be accepted on a pro rata basis if tenders exceed the offer cap.

The offers will expire at 4 a.m. ET on Dec. 22.

Settlement is expected to be on Dec. 28.

Guotai Junan Securities (Hong Kong) Ltd. (+852 2509 9118; attn.: fixed income currencies and commodities department; dcm.silkroad2019@gtjas.com.hk) is acting as dealer manager for the offers.

Morrow Sodali Ltd. (CQLGST@investor.morrowsodali.com; https://projects.morrowsodali.com/CQLGST; +44 20 4513 6933; +852 2319 4130) is tender and information agent.

The issuer said the offers are being made as part of its efforts to reduce its outstanding debts, alleviate its repayment pressures and improve its cash flow management and long-term business operations.

The issuer provides infrastructure management services and is based in Chongqing, China.

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