New Issue: China’s Yichang High-Tech sells $100 million 5% five-year notes at par

By Wendy Van Sickle

Columbus, Ohio, Nov. 19 – Yichang High-Tech Investment Development Co., Ltd. priced $100 million of 5% five-year notes (//BB+) at par, according to a company notice.

China International Capital Corp. and CNCB Capital are the global coordinators and are joined as lead managers and bookrunners by Hua Xia Bank Co., Ltd. Hong Kong Branch, Industrial Bank Co., Ltd. Hong Kong Branch, CLSA, Guoyuan Capital, China Industrial Securities International, Guotai Junan International, China Minsheng Banking Corp., Ltd., Hong Kong Branch and Shanghai Pudong Development Bank Hong Kong Branch.

Proceeds will be used to refinance offshore debt.

The state-owned company provides land subdivision services and is based in Xianning, China.

Issuer:	Yichang High-Tech Investment Development Co., Ltd.
Amount:	$100 million
Issue:	Notes
Maturity:	Nov. 18, 2024
Bookrunners:	China International Capital Corp., CNCB Capital, Hua Xia Bank Co., Ltd. Hong Kong Branch, Industrial Bank Co., Ltd. Hong Kong Branch, CLSA, Guoyuan Capital, China Industrial Securities International, Guotai Junan International, China Minsheng Banking Corp., Ltd., Hong Kong Branch and Shanghai Pudong Development Bank Hong Kong Branch
Coupon:	5%
Price:	Par
Yield:	5%
Issue date:	Nov. 18
Rating:	Fitch: BB+
Distribution:	Regulation S
ISIN:	XS2362785573

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