By Wendy Van Sickle
Columbus, Ohio, July 17 – Nan Hai Corp. Ltd. priced $400 million of 3.15% credit-enhanced notes due 2020 at 99.909, according to a notice from the issuer.
China CITIC Bank International Ltd., Agricultural Bank of China Ltd., Singapore Branch, BOCI Asia Ltd. and Wing Lung Bank Ltd. are the lead managers for the Regulation S issue, which was sold through the company’s Amber Treasure Ventures Ltd. subsidiary.
There are one-time calls in July 2019 and January 2020 at par.
The bonds will be supported by a standby letter of credit issued by China Citic Bank Corp. Ltd., Shenzhen Branch.
Proceeds will be used for general corporate purposes.
Nan Hai is a Hong Kong-based investment holding company is mainly engaged in information technology and media businesses.
| Issuer: | Amber Treasure Ventures Ltd.
|
| Guarantor: | Nan Hai Corp. Ltd.
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| Issue: | Credit enhanced notes
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| Amount: | $400 million
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| Maturity: | July 21, 2020
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| Coupon: | 3.15%
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| Price: | 99.909
|
| Call: | July 2019 or January 2020 at par
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| Lead managers: | China CITIC Bank International Ltd., Agricultural Bank of China Ltd., Singapore Branch, BOCI Asia Ltd. and Wing Lung Bank Ltd.
|
| Pricing date: | July 17
|
| Settlement date: | July 21
|
| Expected ratings: | Moody’s: Baa2
|
| Distribution: | Regulation S
|
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