Published on 5/20/2015 in the Prospect News Emerging Markets Daily.
New Issue: China’s Zhengzhou Yutong sells RMB 1 billion 4% notes due 2018 at par
By Christine Van Dusen
Atlanta, May 20 – China’s Zhengzhou Yutong Bus Co. – through Sinostrong International Ltd. – priced RMB 1 billion three-year notes (expected rating: A1) at par to yield 4% on Wednesday, a market source said.
Bank of China and HSBC were the bookrunners for the Regulation S deal.
The issuer is a bus manufacturer based in Zhengzhou.
| Issuer: | Sinostrong International Ltd.
|
| Amount: | RMB 1 billion
|
| Maturity: | May 28, 2018
|
| Description: | Notes
|
| Bookrunners: | Bank of China, HSBC
|
| Coupon: | 4%
|
| Price: | Par
|
| Yield: | 4%
|
| Trade date: | May 20
|
| Settlement date: | May 28
|
| Expected rating: | Moody’s: A1
|
| Distribution: | Regulation S
|
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