New Issue: Shaanxi Financial prices $200 million of 5.8% bonds due 2027 at 99.458

By William Gullotti

Buffalo, N.Y., March 8 – China’s Shaanxi Financial Asset Management Co., Ltd. sold $200 million of 5.8% bonds due 2027 (Baa3/BBB) at 99.458, according to a listing notice with an appended offering circular on Friday.

China International Capital Corp., Hua Xia Bank Co., Ltd., Hong Kong Branch, BOC International, China Industrial Securities International, CMB Wing Lung Bank Ltd., CNCB Capital, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, CMBC Capital, Bank of China, CEB International, SPDB International, China Securities International, Bocom International, Citic Securities, Orient Securities (Hong Kong), Luso Bank Ltd., CMB International and China Minsheng Banking Corp., Ltd., Hong Kong Branch are the joint lead managers and joint bookrunners for the offering, with China International Capital, Hua Xia, BOC, China Industrial Securities, CMB Wing Lung and CNCB also serving as joint global coordinators.

Proceeds will be used to repay offshore debt, for distressed assets management projects and for working capital.

Listing for the Regulation S bonds is expected on the Hong Kong Exchange effective March 8.

The Xianyang, China-based company engages in land development and consolidation activities.

Issuer:	Shaanxi Financial Asset Management Co., Ltd.
Amount:	$200 million
Issue:	Bonds
Maturity:	March 7, 2027
Bookrunners:	China International Capital Corp., Hua Xia Bank Co., Ltd., Hong Kong Branch, BOC International, China Industrial Securities International, CMB Wing Lung Bank Ltd., CNCB Capital, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, CMBC Capital, Bank of China, CEB International, SPDB International, China Securities International, Bocom International, Citic Securities, Orient Securities (Hong Kong), Luso Bank Ltd., CMB International and China Minsheng Banking Corp., Ltd., Hong Kong Branch
Trustee:	CMB Wing Lung (Trustee) Ltd.
Counsel to issuer:	Freshfields Bruckhaus Deringer (England), Yong Jia Xin Law Firm (China)
Counsel to underwriters:	Linklaters (England), JunHe LLP (China)
Coupon:	5.8%
Price:	99.458
Call:	For taxation reasons at par
Puts:	At 101 for a change of control; at par for a no registration event
Pricing date:	Feb. 29
Issue date:	March 7
Listing date:	March 8
Ratings:	Moody’s: Baa3
	Fitch: BBB
Distribution:	Regulation S
ISIN:	XS2753615934

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