Published on 9/16/2020 in the Prospect News Emerging Markets Daily.
New Issue: China’s Linyi City’s Yi Bright unit sells $300 million three-year bonds
By Wendy Van Sickle
Columbus, Ohio, Sept. 16 – Linyi City Construction Investment Group Co., Ltd. wholly owned subsidiary Yi Bright International Ltd. sold $300 million of 3% three-year bonds (//BBB-), according to a listing notice with the Stock Exchange of Hong Kong.
The parent will guarantee the notes.
China International Capital Corp., China Industrial Securities International and Bank of China are the global coordinators for the Regulation S notes and are joined as lead managers and bookrunners by China Minsheng Banking Corp., Ltd., Hong Kong Branch, Industrial Bank Co., Ltd. Hong Kong Branch, CEB International, Guotai Junan International, Bocom International and ABC International.
Listing is expected to be effective Thursday.
The engineering and construction services company is based in Linyi, China.
| Issuer: | Yi Bright International Ltd.
|
| Guarantor: | Linyi City Construction Investment Group Co., Ltd.
|
| Issue: | Bonds
|
| Amount: | $300 million
|
| Maturity: | 2023
|
| Bookrunners | China International Capital Corp., China Industrial Securities International, Bank of China, China Minsheng Banking Corp., Ltd., Hong Kong Branch, Industrial Bank Co., Ltd. Hong Kong Branch, CEB International, Guotai Junan International, Bocom International and ABC International
|
| Coupon: | 3%
|
| Listing date: | Sept. 17
|
| Ratings: | Fitch: BBB-
|
| Distribution: | Regulation S
|
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