Chicago, July 23 – HFI International (HK) Ltd. sold $260 million of 3.2% notes (//BBB+) with a five-year maturity in a debut overseas issue, according to a company release.
Pricing was 50 basis points tighter than initial guidance with the books oversubscribed and reaching over $1.86 billion.
The notes are guaranteed by parent Hangzhou Finance And Investment Group Co., Ltd.
Proceeds will be used for refinancing and business development needs.
Hangzhou Financial is a state-owned enterprise.
| Issuer: | HFI International (HK) Ltd.
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| Guarantor: | Hangzhou Finance And Investment Group Co., Ltd.
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| Issue: | Guaranteed notes
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| Amount: | $260 million
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| Maturity: | Five years
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| Coupon: | 3.2%
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| Rating: | BBB+
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| Pricing date: | July 9
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| Price talk: | Lower than talk by 50 bps
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