By William Gullotti
Buffalo, N.Y., April 21 – China’s Xiamen International Port Co., Ltd. issued RMB 1.8 billion of 3.05% five-year bonds on Wednesday, according to an announcement.
The bonds have a coupon adjustment option and put option at the end of the third year.
Orient Securities Investment Banking Co., Ltd. is the lead principal underwriter, with China International Capital Corp. Ltd., Citic Securities Co., Ltd. and CSC Financial Co., Ltd. as joint principal underwriters.
This is the company’s first tranche of corporate bonds for 2022. The company will use proceeds mainly to repay interest-bearing debt and to supplement working capital.
The Xiamen, China-based company provides port logistics services and trading services of commodities and also sells construction materials.
| Issuer: | Xiamen International Port Co., Ltd.
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| Amount: | RMB 1.8 billion
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| Issue: | Corporate bonds, 2022 first tranche
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| Maturity: | Five years
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| Underwriters: | Orient Securities Investment Banking Co., Ltd. (lead), China International Capital Corp. Ltd., Citic Securities Co., Ltd. and CSC Financial Co., Ltd.
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| Coupon: | 3.05%, adjustable at end of third year
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| Put option: | At end of third year
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| Settlement date: | April 20
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