By Rebecca Melvin
Concord, N.H., Dec. 15 – China’s Xihui Haiwai I Investment Holdings Co., Ltd. priced $300 million of 1.95% green notes due 2024 (expected rating: //BBB+) that are guaranteed by Wuxi Construction and Development Investment Co., Ltd., according to a listing notice and an offering circular on Wednesday.
The Regulation S notes priced at par.
They have a make-whole call and are putable upon a change of control at 101.
Standard Chartered Bank, China Securities International, CLSA, OCBC Bank and Hua Xia Bank Co. Ltd. Hong Kong Branch are joint global coordinators. They are also joint lead managers and joint bookrunners together with CNCB Capital, Bank of Communications, Industrial Bank Co. Ltd. Hong Kong Branch, China Minsheng Banking Corp. Ltd. Hong Kong Branch, China Everbright Bank Hong Kong Branch, Zhongtai International, CMB Wing Lung Bank Ltd., and Shanghai Pudong Development Bank Hong Kong Branch.
China Securities International and Standard Chartered Bank are joint green structuring advisers.
Proceeds will be used for refinancing the group’s debt in line with its green finance framework.
Listing for the notes is expected on the Hong Kong Exchange effective Dec. 15.
The infrastructure construction services company is based in Wuxi, China.
| Issuer: | Xihui Haiwai I Investment Holdings Co., Ltd.
|
| Guarantor: | Wuxi Construction and Development Investment Co., Ltd.
|
| Issue: | Green notes
|
| Amount: | $300 million
|
| Maturity: | Dec. 14, 2024
|
| Bookrunners: | Standard Chartered Bank, China Securities International, CLSA, OCBC Bank, Hua Xia Bank Co. Ltd. Hong Kong Branch, CNCB Capital, Bank of Communications, Industrial Bank Co. Ltd. Hong Kong Branch, China Minsheng Banking Corp. Ltd. Hong Kong Branch, China Everbright Bank Hong Kong Branch, Zhongtai International, CMB Wing Lung Bank Ltd., and Shanghai Pudong Development Bank Hong Kong Branch
|
| Green structuring advisers: | China Securities International and Standard Chartered Bank
|
| Coupon: | 1.95%
|
| Price: | Par
|
| Yield: | 1.95%
|
| Call features: | Make-whole call
|
| Puts: | Upon change of control at 101
|
| Pricing date: | Dec. 14
|
| Listing date: | Dec. 15
|
| Ratings: | Fitch: BBB+
|
| Distribution: | Regulation S
|
| ISIN: | XS2416568702
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
