Published on 6/5/2019 in the Prospect News Emerging Markets Daily.
New Issue: China’s Yunnan Provincial Energy prices $400 million add-on to 6¼% notes
By Rebecca Melvin
New York, June 5 – China’s Yunnan Provincial Energy Investment Group Co. Ltd. priced a $400 million add-on to its 6¼% notes due 2021, forming a single issue that is $600 million in size, according to a regulatory notice.
The original notes were issued Nov. 29, 2018. Listing of the new notes becomes effective on Thursday.
Citigroup, HSBC, BOC International, Silk Road International, Guotai Junan International Haitong International, China Minsheng Banking Corp. Ltd., Hong Kong Branch, and China Everbright Bank, Hong Kong Branch were joint bookrunners and joint lead managers of the Regulation S deal.
The issuer is a Kunming-based supplier of steel, iron ore, coal, sand and gravel that also works in transportation, construction, technology and other sectors.
| Issuer: | Yunnan Provincial Energy Investment Group Co. Ltd.
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| Amount: | $400 million add-on
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| Maturity: | Nov. 29, 2021
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| Description: | Notes
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| Bookrunners: | Citigroup, HSBC, BOC International, Silk Road International, Guotai Junan International Haitong International, China Minsheng Banking Corp. Ltd., Hong Kong Branch, and China Everbright Bank, Hong Kong Branch
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| Coupon: | 6¼%
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| Listing date: | June 7
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| Distribution: | Regulation S
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| Total issue size: | $600 million
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