By Wendy Van Sickle
Columbus, Ohio, Aug. 25 – Overseas Chinese Town (Asia) Holdings Ltd. priced $300 million of senior guaranteed perpetual capital securities, according to a listing notice.
The securities are guaranteed by Overseas Chinese Town Enterprises Ltd. Co.
The notes have an initial distribution rate of 4½%.
Bank of China is the bookrunner and is a joint lead manager along with Taiping Securities, China Chengtong and China Industrial Securities International.
The notes will be issued on Aug. 26.
The Hong Kong-based issuer’s main business is paperboard and carton manufacturing and other packaging design. The guarantor is a Shenzhen, China-based enterprise with tourism, real estate, hotel development and electronics manufacturing as its primary businesses.
| Issuer: | Overseas Chinese Town (Asia) Holdings Ltd.
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| Guarantor: | Overseas Chinese Town Enterprises Ltd. Co.
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| Issue: | Senior guaranteed perpetual capital securities
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| Amount: | $300 million
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| Maturity: | Perpetual
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| Bookrunner: | Bank of China
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| Joint lead managers: | Bank of China, Taiping Securities, China Chengtong and China Industrial Securities International
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| Distribution rate: | 4½%, initial rate
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| Pricing date: | Aug. 20
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| Settlement date: | Aug. 25
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