By Cady Vishniac
Detroit, Jan. 19 – Changzhou Eastern New City Construction Group Co. Ltd. subsidiary Enrong International (Hongkong) Ltd. has issued $300 million of 3% bonds due 2024 (//BBB-) on Friday, according to a notice.
The notes are guaranteed by the parent.
Joint global coordinators, joint bookrunners and joint lead managers of the Regulation S deal are China Securities International and ICBC International.
Joint bookrunners and joint lead managers are BOSC International, Industrial Bank Co., Ltd. Hong Kong Branch, China Everbright Bank Hong Kong Branch, Bocom International, Hung Sing Securities Ltd., Huarong International Securities, CEB International and CNCB Capital.
Application has been made to the Stock Exchange of Hong Kong Ltd. for the listing of the bonds, which is expected to become effective on Jan. 20.
Proceeds, according to Fitch Ratings, will be used for general corporate purposes.
The commercial bank is based in Tianjin, China.
| Issuer: | Enrong International (Hongkong) Ltd.
|
| Guarantor: | Changzhou Eastern New City Construction Group Co. Ltd.
|
| Issue: | Bonds
|
| Amount: | $300 million
|
| Maturity: | 2024
|
| Bookrunners: | China Securities International, ICBC International, BOSC International, Industrial Bank Co., Ltd. Hong Kong Branch, Bocom International, Hung Sing Securities Ltd., Huarong International Securities, CEB International and CNCB Capital
|
| Coupon: | 3%
|
| Pricing date: | Jan. 12
|
| Announcement date: | Jan. 19
|
| Listing date: | Jan. 20
|
| Rating: | Fitch: BBB-
|
| Distribution: | Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
