New Issue: China’s Hainan State Farms sells $300 million 3% bonds due 2024 at par

By Wendy Van Sickle

Columbus, Ohio, Feb. 3 – Hainan State Farms International (HK) Co., Ltd. sold $300 million of 3% bonds due 2024 (//BBB+) at par, according to a listing notice with the Stock Exchange of Hong Kong.

The notes are guaranteed by Hainan State Farms Investment Holdings Group Co., Ltd.

Guotai Junan International, China International Capital Corp. and ICBC International are the global coordinators and the bookrunners and lead managers along with Shanghai Pudong Development Bank Hong Kong Branch, Zhongtai International, Bocom International, China Minsheng Banking Corp., Ltd. Hong Kong Branch, CEB International, Industrial Bank Co., Ltd. Hong Kong Branch and BOC International.

Proceeds of the Regulation S bonds will be used for general corporate purposes.

Hainan State Farms Investment Holdings is a Haikou, China-based investment company.

Issuer:	Hainan State Farms International (HK) Co., Ltd.
Guarantor:	Hainan State Farms Investment Holdings Group Co., Ltd.
Issue:	Bonds
Amount:	$300 million
Maturity:	2024
Bookrunners:	Guotai Junan International, China International Capital Corp., ICBC International, Shanghai Pudong Development Bank Hong Kong Branch, Zhongtai International, Bocom International, China Minsheng Banking Corp., Ltd. Hong Kong Branch, CEB International, Industrial Bank Co., Ltd. Hong Kong Branch and BOC International
Coupon:	3%
Price:	Par
Listing date:	Feb. 4
Rating:	Fitch: BBB+
Distribution:	Regulation S

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