By Marisa Wong
Morgantown, W.Va., Oct. 31 – Yuexiu Transport Infrastructure Ltd. said it issued RMB 1 billion of corporate bonds on Friday. The company sold RMB 200 million of 2.9% five-year bonds and RMB 800 million of 3.18% seven-year bonds.
The company announced last week that it was offering RMB 500 million of corporate bonds with an up to RMB 500 million over-allotment option.
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.
| Issuer: | Yuexiu Transport Infrastructure Ltd.
|
| Issue: | Corporate bonds, 2016 second phase
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| Amount: | RMB 1 billion
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| Underwriters: | Guangzhou Securities Co., Ltd. and Morgan Stanley Huaxin Securities Co., Ltd.
|
| Settlement date: | Oct. 28
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|
|
| Five-year bonds
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| Amount: | RMB 200 million
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| Maturity: | Five years
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| Coupon: | 2.9%, adjustable at end of third year
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| Call option: | At end of third year
|
| Put option: | At end of third year
|
|
|
| Seven-year bonds
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| Amount: | RMB 800 million
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| Maturity: | Seven years
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| Coupon: | 3.18%, adjustable at end of fifth year
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| Call option: | At end of fifth year
|
| Put option: | At end of fifth year
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