China’s Yuexiu Transport to offer RMB 500 million 2.9%, 3.18% bonds

By Marisa Wong

Morgantown, W.Va., Oct. 26 – Yuexiu Transport Infrastructure Ltd. said it will offer RMB 500 million of corporate bonds. The offering will include an up to RMB 500 million over-allotment option, according to a company announcement.

The bonds will be divided into two types: 2.9% five-year bonds and 3.18% seven-year bonds.

The bonds will have a coupon adjustment option, a call option and a put option at the end of the third year for the five-year bonds and at the end of the fifth year for the seven-year bonds.

The company announced in July that it received regulatory approval to issue up to RMB 2 billion of corporate bonds to qualified investors in mainland China.

Guangzhou Securities Co., Ltd. and Morgan Stanley Huaxin Securities Co., Ltd. are the joint lead underwriters, as previously reported.

Proceeds from the current tranche will be used to repay bank loans and to replenish working capital.

Based in Hong Kong, Yuexiu Transport Infrastructure operates and manages toll highways, expressways and bridges in China.

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