New Issue: China’s Rongshi International issues $300 million 1˝% notes due 2025

By Wendy Van Sickle

Columbus, Ohio, Nov. 5 – Rongshi International Finance Ltd. issued $300 million 1˝% notes due 2025 (A2//A+) under a $3 billion medium-term note program guaranteed by State Development & Investment Corp. Ltd., according to a notice from the Hong Kong Stock Exchange.

The program is expected to become effective on Friday.

ICBC, BOC International, DBS Bank Ltd. and JPMorgan are global coordinators for the Regulation S notes and are lead arrangers and bookrunners along with Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China (Hong Kong), China Construction Bank (Asia), Citigroup, Deutsche Bank, Essence International, Mizuho Securities and Natixis.

The issuer is an investment company based in the Virgin Islands.

Issuer:	Rongshi International Finance Ltd.
Guarantor:	State Development & Investment Corp. Ltd.
Issue:	Notes
Amount:	$300 million
Maturity:	2025
Bookrunners:	ICBC, BOC International, DBS Bank Ltd., JPMorgan, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China (Hong Kong), China Construction Bank (Asia), Citigroup, Deutsche Bank, Essence International, Mizuho Securities and Natixis
Coupon:	1˝%
Announcement date:	Nov. 5
Listing date:	Nov. 6
Ratings:	Moody’s: A2
	Fitch: A+
Distribution:	Regulation S

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