New Issue: Power Construction of China unit prices $300 million 3% notes, $500 million 4.3% perpetuals

By Angela McDaniels

Tacoma, Wash., June 20 – Power Construction Corp. of China subsidiary Dianjian Haiyu Ltd. issued $300 million of 3% notes due 2022 (//A-) and $500 million of 4.3% senior perpetual securities (//BBB+), according to a notice of listing on the Stock Exchange of Hong Kong Ltd.

The notes and perpetual securities are guaranteed by the parent company.

The joint global coordinators were CCB International and Standard Chartered Bank. The joint lead managers were Agricultural Bank of China Ltd., Hong Kong Branch, EBS International, Citigroup, DBS Bank Ltd., ICBC International and HSBC.

Power Construction Corp. of China is a Beijing-based contracting, investment and real estate development company.

Issuer:	Dianjian Haiyu Ltd.
Guarantor:	Power Construction Corp. of China
Amount:	$800 million
Global coordinators:	CCB International and Standard Chartered Bank
Lead managers:	Agricultural Bank of China Ltd., Hong Kong Branch, EBS International, Citigroup, DBS Bank Ltd., ICBC International and HSBC
Pricing date:	June 13
Notes
Amount:	$300 million
Maturity:	2022
Coupon:	3%
Rating:	Fitch: A-
Perpetual securities
Amount:	$500 million
Maturity:	Perpetual
Coupon:	4.3%
Rating:	Fitch BBB+

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