New Issue: Qingdao China Prosperity’s Huatong unit prices $280 million 6.8% notes due 2027 at par

By William Gullotti

Buffalo, N.Y., Feb. 8 – Qingdao China Prosperity State-owned Capital Operation (Group) Co., Ltd., via wholly owned subsidiary Huatong International Investment Holdings Co., Ltd., sold $280 million of 6.8% notes due 2027 (Lianhe: A) at par, according to a listing notice and an offering circular on Thursday.

The notes are issued by the subsidiary and feature the benefit of a keepwell deed provided by the parent.

Standard Chartered Bank, China International Capital Corp., CNCB Capital, Industrial Bank Co., Ltd., Hong Kong Branch, Citic Securities, ABC International, Bocom International, China Citic Bank International, China Galaxy International, China Industrial Securities International, China Securities International, CMBC Capital, GF Securities, Guotai Junan International, Haitong International, SPDB International and Zhongtai International are the joint lead managers and joint bookrunners, with Standard Chartered, China International Capital, CNCB, Industrial Bank and Citic Securities also acting as joint global coordinators.

Proceeds will be used to refinance existing offshore debt.

Listing for the Regulation S notes is expected on the Chongwa (Macao) Exchange effective Feb. 8.

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.
Keepwell:	Qingdao China Prosperity State-owned Capital Operation (Group) Co., Ltd.
Amount:	$280 million
Issue:	Notes
Maturity:	Feb. 7, 2027
Bookrunners:	Standard Chartered Bank, China International Capital Corp., CNCB Capital, Industrial Bank Co., Ltd., Hong Kong Branch, Citic Securities, ABC International, Bocom International, China Citic Bank International, China Galaxy International, China Industrial Securities International, China Securities International, CMBC Capital, GF Securities, Guotai Junan International, Haitong International, SPDB International and Zhongtai International
Trustee:	Citicorp International Ltd.
Counsel to issuer:	King & Wood Mallesons (England, Hong Kong), JunHe LLP (China)
Counsel to underwriters:	Allen & Overy (England), Zhong Lun Law Firm (China)
Coupon:	6.8%
Price:	Par
Yield:	6.8%
Call:	For taxation reasons at par
Change of control:	At 101
Pricing date:	Jan. 31
Issue date:	Feb. 7
Listing date:	Feb. 8
Rating:	Lianhe: A
Distribution:	Regulation S
ISIN:	XS2741790237

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