Published on 8/28/2019 in the Prospect News Emerging Markets Daily.
New Issue: China’s Zhuji Development sells $189 million more 7% bonds due 2021
By Wendy Van Sickle
Columbus, Ohio, Aug. 28 – Zhuji Development Ltd. priced a $189 million add-on to its 7% bonds due 2021 at 104.81 plus an amount equal to accrued interest from Dec. 11, 2018 to June 25, according to a listing noticed filed with the Stock Exchange of Hong Kong Ltd.
The bonds will be consolidated and form a single series with the $230 million of bonds issued on Dec. 11, 2018 and the $81 million of bonds issued on Dec. 21, 2018.
The bonds are guaranteed by Zhuji State-owned Assets Management Co., Ltd.
China Securities International, Bank of China, ICBC International, Huatai Financial Holdings (Hong Kong) Ltd., Industrial Bank Co., Ltd. Hong Kong Branch, Silk Road International, Guosen Securities (HK), Bocom International, ABC International, DBS Bank Ltd. and Bank of Communications are the joint lead managers and bookrunners.
The listing is expected to become effective on Aug. 29.
The investment management services provider is based in China.
| Issuer: | Zhuji Development Ltd.
|
| Guarantor: | Zhuji State-owned Assets Management Co., Ltd.
|
| Issue: | Add-on bonds
|
| Amount: | $189 million
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| Maturity: | 2021
|
| Bookrunners: | China Securities International, Bank of China, ICBC International, Huatai Financial Holdings (Hong Kong) Ltd., Industrial Bank Co., Ltd. Hong Kong Branch, Silk Road International, Guosen Securities (HK), Bocom International, ABC International, DBS Bank Ltd. and Bank of Communications
|
| Coupon: | 7%
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| Price: | 104.81 plus an amount equal to accrued interest from Dec. 11, 2018 to June 25
|
| Listing date: | Aug. 29
|
| Previous issuance: | $230 million on Dec. 11, 2018 and $81 million on Dec. 21, 2018
|
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