New Issue: China’s Yangzhou Urban Construction sells $300 million notes due 2023

By Sarah Lizee

Olympia, Wash., Aug. 24 – Yangzhou Urban Construction State-Owned Assets Holding (Group) Co., Ltd. priced $300 million of 3.02% notes due 2023 (//BBB), according to a notice.

The joint bookrunners and joint lead managers are China Industrial Securities International, China International Capital Corp., China International, CLSA, CMB Wing Lung Bank Ltd., Huatai International, ICBC (Macau) and Shanghai Pudong Development Bank Hong Kong Branch. The joint global coordinators are China Minsheng Banking Corp., Ltd., Hong Kong Branch, Haitong International and Industrial Bank Co., Ltd. Hong Kong Branch.

Listing is expected for Tuesday.

The developer of affordable housing projects is based in Yangzhou, China.

Issuer:	Yangzhou Urban Construction State-Owned Assets Holding (Group) Co., Ltd.
Issue:	Notes
Amount:	$300 million
Maturity:	2023
Bookrunners:	China Industrial Securities International, China International Capital Corp., China International, CLSA, CMB Wing Lung Bank Ltd., Huatai International, ICBC (Macau) and Shanghai Pudong Development Bank Hong Kong Branch
Coupon:	3.02%
Rating:	Fitch: BBB
Listing date:	Aug. 25

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