New Issue: Huaxin Pharmaceutical issues $60 million 5.55% guaranteed bonds due 2027 at par

Chicago, Jan. 17 – Huaxin Pharmaceutical (Hong Kong) Co. Ltd. issued $60 million of 5.55% credit-enhanced guaranteed bonds due 2027, according to an offering circular.

The non-rated bonds priced at par.

The guarantee comes from Taizhou Huaxin Pharmaceutical Investment Co. Ltd., and there is an irrevocable standby letter of credit issued by Postal Savings Bank of China Co., Ltd., Taizhou Branch.

Fosun International Securities Ltd., Hua Xia Bank Co., Ltd. Hong Kong Branch, CMB International Capital Ltd., ICBC International Securities Ltd. (joint global coordinators), Industrial Bank Co., Ltd. Hong Kong Branch, CLSA Ltd., ABCI Capital Ltd., CEB International Capital Corp. Ltd., CNCB (Hong Kong) Capital Ltd., Initial Capital Securities Ltd., CMBC Securities Co. Ltd., Gee Hi International Securities (Hong Kong) Ltd., GF Securities (Hong Kong) Brokerage Ltd., China Industrial Securities International Brokerage Ltd., Huatai Financial Holdings (Hong Kong) Ltd. and Sigma Capital Management Ltd. were the joint lead managers.

Proceeds will be used to repay existing medium-to-long term offshore debt due within one year.

The drug wholesale and distribution company is based in Taizhou, China.

Issuer:	Huaxin Pharmaceutical (Hong Kong) Co. Ltd.
Guarantor:	Taizhou Huaxin Pharmaceutical Investment Co. Ltd.
LoC issuer:	Postal Savings Bank of China Co., Ltd., Taizhou Branch
Amount:	$60 million
Issue:	Credit-enhanced guaranteed bonds
Maturity:	Jan. 16, 2027
Bookrunners:	Fosun International Securities Ltd., Hua Xia Bank Co., Ltd. Hong Kong Branch, CMB International Capital Ltd., ICBC International Securities Ltd. (joint global coordinators), Industrial Bank Co., Ltd. Hong Kong Branch, CLSA Ltd., ABCI Capital Ltd., CEB International Capital Corp. Ltd., CNCB (Hong Kong) Capital Ltd., Initial Capital Securities Ltd., CMBC Securities Co. Ltd., Gee Hi International Securities (Hong Kong) Ltd., GF Securities (Hong Kong) Brokerage Ltd., China Industrial Securities International Brokerage Ltd., Huatai Financial Holdings (Hong Kong) Ltd. and Sigma Capital Management Ltd.
Trustee:	China Construction Bank (Asia) Corp. Ltd.
Counsel to issuer:	Tian Yuan Law Firm LLP, Jincheng Tongda & Neal
Counsel to underwriters:	Latham & Watkins LLP, Jingtian & Gongcheng
Coupon:	5.55%
Price:	Par
Yield:	5.55%
Call features:	Non-callable
Change of control:	At par
Trade date:	Jan. 11
Settlement date:	Jan. 16
Distribution:	Regulation S
ISIN:	XS2736032470

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