By Sarah Lizee
Olympia, Wash., Oct. 30 – Shanghai Huayi (Group) Co. subsidiary Huayi Finance I Ltd. sold $350 million of 3% guaranteed notes due 2024 (Baa3/BBB/BBB-), according to a notice of listing on the Stock Exchange of Hong Kong Ltd.
The notes are guaranteed by Shanghai Huayi.
Morgan Stanley, Bank of Communications, ICBC International, Standard Chartered Bank, Shanghai Pudong Development Bank Hong Kong Branch and DBS Bank Ltd. are the joint lead managers and joint bookrunners, with Morgan Stanley, Bank of Communications, ICBC and Shanghai Pudong as joint global coordinators.
Listing is expected on Thursday.
The chemistry enterprise group is based in Shanghai.
| Issuer: | Huayi Finance I Ltd.
|
| Guarantor: | Shanghai Huayi (Group) Co.
|
| Issue: | Guaranteed notes
|
| Amount: | $350 million
|
| Maturity: | 2024
|
| Bookrunners: | Morgan Stanley, Bank of Communications, ICBC International, Standard Chartered Bank, Shanghai Pudong Development Bank Hong Kong Branch and DBS Bank Ltd. with Morgan Stanley, Bank of Communications, ICBC and Shanghai Pudong as joint global coordinators
|
| Coupon: | 3%
|
| Announcement date: | Oct. 30
|
| Listing date: | Oct. 31
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
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