Chicago, July 22 – CSSC (Hong Kong) Shipping Co. Ltd. sold $500 million of 2.1% five-year guaranteed bonds (A-/A) through its special purpose company CSSC Capital 2015 Ltd., according to a notice.
The notes priced at 99.67.
The notes can be called at any time at a price equal to their make-whole redemption price.
The company hired Bank of China (Hong Kong), CCB International, CLSA and DBS Bank Ltd. as joint global coordinators.
They were joined by ABC International, Bank of Communications, CMB International, CNCB Capital, Credit Agricole CIB, Haitong International, Shanghai Pudong Development Bank Hong Kong Branch and SPDB International as joint bookrunners and joint lead managers for the Regulation S only transaction.
Proceeds will be used to develop the group’s leasing business, including to finance or refinance expenditures on eligible green and blue projects to generate positive environmental benefits in accordance with the issuer’s green bond finance framework.
The ship leasing company is based in Hong Kong.
| Issuer: | CSSC Capital 2015 Ltd.
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| Guarantor: | CSSC (Hong Kong) Shipping Co. Ltd.
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| Issue: | Guaranteed bonds
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| Amount: | $500 million
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| Maturity: | July 27, 2026
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| Bookrunners: | Bank of China (Hong Kong), CCB International, CLSA, DBS Bank Ltd., ABC International, Bank of Communications, CMB International, CNCB Capital, Credit Agricole CIB, Haitong International, Shanghai Pudong Development Bank Hong Kong Branch and SPDB International
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| Trustee: | Bank of Communications Trustee Ltd.
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| Coupon: | 2.1%
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| Price: | 99.67
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| Call features: | Make-whole redemption at any time
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| Change of control: | At 101
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| Trade date: | July 21
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| Ratings: | S&P: A-
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| Fitch: A
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| Distribution: | Regulation S
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