Published on 8/11/2020 in the Prospect News Emerging Markets Daily.
New Issue: China’s Yiwu State-Owned unit sells $500 million 3.15% bonds due 2023
By Wendy Van Sickle
Columbus, Ohio, Aug. 11 – Yiwu State-Owned Capital Operation Co., Ltd. subsidiary Chouzhou International Investment Ltd. sold $500 million 3.15% guaranteed bonds due 2023 (Baa3//BBB), according to a notice of listing on the Stock Exchange of Hong Kong Ltd.
The notes are guaranteed by Yiwu.
Standard Chartered Bank, Bank of Communications, Guotai Junan International, ABC International, Bank of China, BOCS International, China Citic Bank International, China Industrial Securities International, China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities International, CMB Wing Lung Bank Ltd., DBS Bank Ltd., Industrial Bank Co., Ltd. Hong Kong Branch and Shanghai Pudong Development Bank Hong Kong Branch are the joint lead managers and joint bookrunners, with Standard Chartered, Bank of Communications and Guotai Junan as joint global coordinators.
Listing is expected for Feb. 19.
Yiwu State-Owned Capital Operation offers investment management services. It is based in Yiwu, China.
Issuer: | Chouzhou International Investment Ltd.
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Guarantor: | Yiwu State-Owned Capital Operation Co., Ltd.
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Issue: | Bonds
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Amount: | $500 million
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Maturity: | 2023
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Bookrunners: | Standard Chartered Bank, Bank of Communications, Guotai Junan International, ABC International, Bank of China, BOCS International, China Citic Bank International, China Industrial Securities International, China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities International, CMB Wing Lung Bank Ltd., DBS Bank Ltd., Industrial Bank Co., Ltd. Hong Kong Branch and Shanghai Pudong Development Bank Hong Kong Branch
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Coupon: | 3.15%
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Announcement date: | Aug. 11
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Listing date: | Aug. 12
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Ratings: | Moody’s: Baa3
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| Fitch: BBB
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