By Rebecca Melvin
New York, Dec. 3 – Yichun Development Investment Group Co. Ltd., a subsidiary of Yichun Development Investment Haitong Co. Ltd., has priced $300 million of 4.2% credit enhanced bonds due 2022 at par, according to a regulatory release.
Juangxi Bank Co. Ltd. provided a standby letter of credit for the issue.
Guotai Junan International and CMBC Capital are joint lead managers and joint bookrunners of the Regulation S deal.
Application has been made to list the bonds on the Hong Kong exchange.
The group is the investing arm of the city of Yichun in Jiangxi Province.
| Issuer: | Yichun Development Investment Group Co. Ltd.
|
| Guarantor: | Juangxi Bank Co. Ltd.
|
| Issue: | Credit enhanced bonds
|
| Amount: | $300 million
|
| Maturity: | 2022
|
| Bookrunners: | Guotai Junan International and CMBC Capital
|
| Coupon: | 4.2%
|
| Price: | Par
|
| Yield: | 4.2%
|
| Announcement date: | Dec. 3
|
| Distribution: | Regulation S
|
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