Published on 9/14/2022 in the Prospect News Emerging Markets Daily.
New Issue: China’s Zhengzhou Real Estate sells $350 million 5.1% bonds due 2025
Chicago, Sept. 14 – Zhengzhou Real Estate Group Co., Ltd. issued $350 million of 5.1% bonds due 2025 (//BBB+) on Tuesday, according to an offering document.
The bonds priced at par.
The joint global coordinators, joint lead managers and joint bookrunners for the Regulation S notes are China International Capital Corp., China Citic Bank International and China Industrial Securities International.
The joint lead managers and joint bookrunners are Industrial Bank Co., Ltd. Hong Kong Branch, Hua Xia Bank Co., Ltd. Hong Kong Branch, China Securities International, CLSA, China Everbright Bank Hong Kong Branch, Haitong Bank, Haitong International, Huatai International, CMB International, Bank of China and SMBC Nikko.
Proceeds will be used to repay offshore bonds.
The real estate group is based in Zhengzhou, China.
| Issuer: | Zhengzhou Real Estate Group Co., Ltd.
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| Amount: | $350 million
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| Issue: | Bonds
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| Maturity: | Sept. 13, 2025
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| Bookrunners: | China International Capital Corp., China Citic Bank International, China Industrial Securities International, Industrial Bank Co., Ltd. Hong Kong Branch, Hua Xia Bank Co., Ltd. Hong Kong Branch, China Securities International, CLSA, China Everbright Bank Hong Kong Branch, Haitong Bank, Haitong International, Huatai International, CMB International, Bank of China and SMBC Nikko
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| Trustee: | China Construction Bank (Asia) Corp. Ltd.
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| Counsel to issuer: | Linklaters and Deheng Law Offices
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| Counsel to underwriters: | Clifford Chance and JunHe, LLP
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| Coupon: | 5.1%
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| Price: | Par
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| Yield: | 5.1%
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| Change of control: | At 101
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| Trade date: | Sept. 5
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| Settlement date: | Sept. 13
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| Rating: | Fitch: BBB+
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| Distribution: | Regulation S
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| ISIN: | XS2502717601
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