Chicago, Jan. 21 – ZGC International Investment Ltd., subsidiary of Zhongguancun Development Group, sold $300 million of 2 7/8% notes (//A) with a three-year tenor, according to a company notice.
The offering was more than eight times oversubscribed with books totaling over $2.5 billion from 100 investors.
The bonds benefit from a keepwell deed.
HSBC, DBS, GF Securities and Bricc are joint coordinators for the offering. HSBC worked as sole credit advisor and ICBC International served as co-bookrunner.
Proceeds will be used for the construction of a global innovation, equity investment in tech firms, capital operation and other purposes.
The company is a Beijing-based investor and operator of science parks.
| Issuer: | ZGC International Investment Ltd.
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| Keepwell deed: | Zhongguancun Development Group
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| Issue: | Bonds
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| Amount: | $300 million
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| Maturity: | Three years
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| Joint coordinators: | HSBC, DBS, GF Securities and Bricc
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| Co-bookrunner: | ICBC International
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| Coupon: | 2 7/8%
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| Pricing date: | Jan. 16
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| Rating: | Fitch: A
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