Published on 6/20/2014 in the Prospect News Emerging Markets Daily.
New Issue: Beijing Infrastructure prices RMB 1.2 billion 3¾% three-year notes at par
By Christine Van Dusen
Atlanta, June 20 – China’s Beijing Infrastructure Investment (Hong Kong) Ltd. priced an RMB 1.2 billion issue of 3¾% notes due June 27, 2017 (A2/A-/A+) at par to yield 3¾%, a market source said.
RBS, Wing Lung Bank, ICBC Asia and ICBC International were the bookrunners for the Regulation S deal.
The proceeds will be used primarily for the development of the railway transit system in Beijing, as well as for working capital and general corporate purposes.
Issuer: | Eastern Creation II Investment Holdings Ltd.
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Amount: | RMB 1.2 billion
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Maturity: | June 27, 2017
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Description: | Senior notes
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Bookrunners: | RBS, Wing Lung Bank (global coordinators); ICBC Asia, ICBC International
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Coupon: | 3¾%
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Price: | Par
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Yield: | 3¾%
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Change of control put: | At 101
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Trade date: | June 20
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Settlement date: | June 27
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Ratings: | Moody’s: A2
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| Standard & Poor’s: A-
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| Fitch: A+
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Distribution: | Regulation S
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