Published on 9/14/2022 in the Prospect News Emerging Markets Daily.
New Issue: Huatai’s Pioneer Reward sells RMB 5 billion 2.85% bonds due 2025
By Marisa Wong
Los Angeles, Sept. 14 – Pioneer Reward Ltd. priced RMB 5 billion of 2.85% bonds due 2025 (Baa1) guaranteed by parent company Huatai Securities Co., Ltd., according to a notice.
Huatai International, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China, Bank of Communications, China Minsheng Banking Corp., Ltd., Hong Kong Branch, ICBC (Asia), Chiyu Banking Corp. Ltd., CMBC Capital, China Citic Bank International, China Everbright Bank Hong Kong Branch, CMB Wing Lung Bank Ltd., HSBC, ICBC (Macau) and ICBC Singapore are the joint lead managers and joint bookrunners.
Huatai, Agricultural Bank, Bank of China, Bank of Communications, China Minsheng and ICBC (Asia) are also the joint global coordinators.
Listing of the bonds on the Stock Exchange of Hong Kong Ltd. will become effective Sept. 15.
Huatai Securities will use the proceeds to support the development of its overseas business, according to a separate rating notice.
The financial services company is based in Nanjing, China.
| Issuer: | Pioneer Reward Ltd.
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| Guarantor: | Huatai Securities Co., Ltd.
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| Amount: | RMB 5 billion
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| Issue: | Bonds
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| Maturity: | 2025
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| Bookrunners: | Huatai International, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China, Bank of Communications, China Minsheng Banking Corp., Ltd., Hong Kong Branch, ICBC (Asia), Chiyu Banking Corp. Ltd., CMBC Capital, China Citic Bank International, China Everbright Bank Hong Kong Branch, CMB Wing Lung Bank Ltd., HSBC, ICBC (Macau) and ICBC Singapore
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| Coupon: | 2.85%
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| Price: | Par
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| Yield: | 2.85%
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| Pricing date: | Sept. 6
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| Listing date: | Sept. 15
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| Rating: | Moody’s: Baa1
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