Chicago, Dec. 1 – Haixi Overseas Investment Co. Ltd. priced $50 million of 1.98% credit-enhanced bonds due 2024, according to a notice of listing on the Stock Exchange of Hong Kong Ltd.
The notes are guaranteed by Jiangsu Jinguan Investment Development Group Co. Ltd. and have the benefit of an irrevocable standby letter of credit issued by China Zheshang Bank Nanjing Branch.
Joint global coordinators, joint bookrunners and joint lead managers are Goldbridge Securities and China Zheshang Bank Co., Ltd. (Hong Kong Branch).
The joint bookrunners and joint lead managers are Fosun Hani, Industrial Bank Co., Ltd. Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch and Guoyuan Capital.
Proceeds will be used for project investment and development, refinancing existing debt and replenishing working capital.
Jiangsu Jinguan offers infrastructure construction services and is based in Lianyungang, China.
| Issuer: | Haixi Overseas Investment Co. Ltd.
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| Guarantor: | Jiangsu Jinguan Investment Development Group Co. Ltd.
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| Amount: | $50 million
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| Issue: | Credit-enhanced bonds
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| Maturity: | Oct. 26, 2024
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| Joint bookrunners: | Goldbridge Securities, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Fosun Hani, Industrial Bank Co., Ltd. Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch and Guoyuan Capital
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| Trustee: | Bank of New York Mellon, London Branch
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| Counsel to issuers: | King & Wood Mallesons, G&D Law Firm, Ogier
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| Counsel to bookrunners: | Fangda Partners, Allen & Overy, Jingtian & Gongcheng
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| Coupon: | 1.98%
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| Price: | Par
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| Yield: | 1.98%
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| Pricing date: | Nov. 22
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| Listing date: | Nov. 26
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| Distribution: | Regulation S
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| ISIN: | XS2406570239
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