Published on 8/18/2021 in the Prospect News Emerging Markets Daily.
New Issue: Zhuhai Huafa unit sells $250 million 4¼% guaranteed perpetual capital securities
By William Gullotti
Buffalo, N.Y., Aug. 18 – China’s Zhuhai Huafa Group Co., Ltd. subsidiary Huafa 2021 I Co. Ltd. sold $250 million of 4¼% guaranteed perpetual capital securities (//BBB-), according to a listing notice Wednesday.
The securities are guaranteed by the parent company.
Haitong International, China Industrial Securities International, HSBC, ABC International, Bank of Communications, Bocom International, BOSC International, China International Capital Corp., China Securities International, CLSA, CMBC Capital, CMB International, CNCB Capital, DBS Bank Ltd., Everbright Securities International, GF Securities, Guotai Junan International, Huajin International, Huatai International, ICBC International, Mizuho Securities, Orient Securities (Hong Kong), SMBC Nikko and SPDB International are the joint global coordinators, joint lead managers, and joint bookrunners.
Proceeds will be used for refinancing offshore debt, according to Fitch Ratings.
Listing for the Regulation S securities is expected to take effect Aug. 19.
The company is a conglomerate based in Zhuhai, China.
| Issuer: | Huafa 2021 I Co. Ltd.
|
| Guarantor: | Zhuhai Huafa Group Co., Ltd.
|
| Issue: | Guaranteed perpetual capital securities
|
| Amount: | $250 million
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| Bookrunners: | Haitong International, China Industrial Securities International, HSBC, ABC International, Bank of Communications, Bocom International, BOSC International, China International Capital Corp., China Securities International, CLSA, CMBC Capital, CMB International, CNCB Capital, DBS Bank Ltd., Everbright Securities International, GF Securities, Guotai Junan International, Huajin International, Huatai International, ICBC International, Mizuho Securities, Orient Securities (Hong Kong), SMBC Nikko and SPDB International
|
| Coupon: | 4¼%
|
| Pricing date: | Aug. 11
|
| Listing date: | Aug. 19
|
| Ratings: | Fitch: BBB-
|
| Distribution: | Regulation S
|
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