By Cady Vishniac
Detroit, Nov. 19 – China’s Yili Holding Investment Ltd. has priced $500 million in 1 5/8% bonds due 2025, guaranteed by Inner Mongolia Yili Industrial Group Co. Ltd., according to a market announcement.
Citigroup, HSBC and ICBC International acted as joint global coordinators, joint lead managers and joint bookrunners on the deal
Barclays, CLSA, Credit Suisse, Huatai International and Shanghai Pudong Development Bank Hong Kong Branch acted as joint lead managers and joint bookrunners.
Proceeds will be used for refinancing and general corporate purposes, according to Moody’s Investors Service.
Yili is a Hohhot, China, dairy producer.
| Issuer: | Yili Holding Investment Ltd.
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| Guarantor: | Inner Mongolia Yili Industrial Group Co., Ltd.
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| Issue: | Guaranteed bonds
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| Amount: | $500 million
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| Maturity: | 2025
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| Bookrunners: | Citigroup, HSBC, ICBC International, Barclays, CLSA, Credit Suisse, Huatai International and Shanghai Pudong Development Bank Hong Kong Branch
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| Coupon: | 1 5/8%
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| Announcement date: | Nov. 19
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| Listing date: | Nov. 20
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| Ratings: | Moody’s: A3
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| S&P: A-
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