Chicago, Jan. 3 – Chengdu Xingcheng Investment Group Co., Ltd. sold $300 million of 2 3/8% guaranteed green notes due 2026 (//BBB+), according to a pricing supplement.
The notes were sold at par.
The notes were issued by subsidiary Xingcheng (BVI) Ltd. and guaranteed by the parent.
China International Capital Corp. was the global coordinator for the Regulation S issue.
Joint bookrunners and joint lead managers also included ICBC International, Industrial Bank Co., Ltd. Hong Kong Branch, ABCI International, China Citic Bank International, Shanghai Pudong Development Bank Hong Kong Branch and Bank of East Asia, Ltd.
Proceeds are being used for offshore refinancing to support certain eligible green projects in accordance with the company’s green financing framework.
The company is an infrastructure development financing company for the city of Chengdu in Sichuan province, China.
| Issuer: | Xingcheng (BVI) Ltd.
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| Guarantor: | Chengdu Xingcheng Investment Group Co., Ltd.
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| Amount: | $300 million
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| Issue: | Guaranteed green notes
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| Maturity: | Oct. 8, 2026
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| Bookrunners: | China International Capital Corp., ICBC International, Industrial Bank Co., Ltd. Hong Kong Branch, ABCI International, China Citic Bank International, Shanghai Pudong Development Bank Hong Kong Branch and Bank of East Asia, Ltd.
|
| Trustee: | Bank of New York Mellon, London Branch
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| Counsel to issuer: | King & Wood Mallesons (English, China), Ogier (BVI)
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| Counsel to bookrunners: | Linklaters (English), Jingtian & Gongcheng (China)
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| Coupon: | 2 3/8%
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| Price: | Par
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| Yield: | 2 3/8%
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| Settlement date: | Oct. 8
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| Rating: | Fitch: BBB+
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| Distribution: | Regulation S
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| ISIN: | XS2384258245
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