Chicago, March 2 – Qingdao China Prosperity State-owned Capital Operation (Group) Co., Ltd. sold $600 million of 2.98% senior notes (//BBB) on Thursday, according to a release.
The notes were issued by wholly owned subsidiary Huatong International Investment Holdings Co., Ltd.
Initial price guidance was at 3.35%.
Standard Chartered Bank, CICC International, Bank of China, Industrial Bank, and Ping An Securities worked as global coordinators for the issue which was 4.19 times oversubscribed.
Proceeds, according to Fitch Ratings, will be used for refinancing offshore debts, project construction and supplementing working capital.
Qingdao China Prosperity operates machinery industry equipment manufacturing, food wholesales, real estate development, and other businesses. It is based in Qingdao, China.
| Issuer: | Huatong International Investment Holdings Co., Ltd.
|
| Guarantor: | Qingdao China Prosperity State-owned Capital Operation (Group) Co., Ltd.
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| Issue: | Senior notes
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| Amount: | $600 million
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| Bookrunners: | Standard Chartered Bank, CICC International, Bank of China, Industrial Bank, and Ping An Securities
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| Coupon: | 3.35%
|
| Pricing date: | Feb. 25
|
| Ratings: | Fitch: BBB
|
| Price talk: | 3.35%
|
| Marketing: | Telephone roadshow
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