By Rebecca Melvin
New York, Jan. 29 – Huaxin Pharmaceutical (Hong Kong) Co. Ltd. sold $60 million of 2.6% credit enhanced bonds due 2024 at par, according to a company announcement on Friday.
The bonds are guaranteed by Taizhou Huaxin Pharmaceutical Investment Co. Ltd. with a standby letter of credit issued by Bank of Jiangsu Co. Ltd. Taizhou Branch.
The placing agents are Guoyuan Capital, China Industrial Securities International, Zhongtai International, Industrial Bank Co. Ltd. Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, Fosun Hani, Dongxing Securities (Hong Kong) and Central Wealth Securities Investment.
The bonds are expected to be listed on the Stock Exchange of Hong Kong Ltd. on Monday.
The drug wholesale and distribution company is based in Taizhou, China.
| Issuer: | Huaxin Pharmaceutical (Hong Kong) Co. Ltd.
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| Guarantor: | Taizhou Huaxin Pharmaceutical Investment Co. Ltd.
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| Amount: | $60 million
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| Description: | Credit enhanced bonds
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| Maturity: | 2024
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| Placing agents: | Guoyuan Capital, China Industrial Securities International, Zhongtai International, Industrial Bank Co. Ltd. Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, Fosun Hani, Dongxing Securities (Hong Kong) and Central Wealth Securities Investment
|
| Coupon: | 2.6%
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| Price: | Par
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| Announcement date: | Jan. 29
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| Listing date: | Feb. 1
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